Tradeshift & HSBC team up on embedded finance joint venture

Tradeshift is partnering with HSBC to launch a new joint venture which will focus on developing embedded finance solutions and financial services apps.

HSBC will invest US$35m into Tradeshift in two separate phases as part of a broader funding round, which is expected to raise at least US$70m from HSBC and other investors.

The joint venture will allow HSBC and Tradeshift to offer a range of new digital solutions on Tradeshift’s cloud-based business platform – including payment and fintech services embedded into trade, ecommerce and marketplace experiences. The move will also help Tradeshift scale its business commerce proposition, expanding into new markets.

The company says more details of the joint venture will be announced early next year.

JV gives Tradeshift ‘strong foundation to scale’

Barry O’Byrne, CEO of Global Commercial Banking at HSBC, says: “Enabling and growing global trade has been in HSBC’s DNA for almost 160 years. We are very excited to partner with Tradeshift to help businesses and their suppliers trade more smoothly using world-class technology and solutions that the joint venture will deliver.

“This agreement supports our strategy of being a digital-first bank, which includes our commitment to partnering with fintechs and embedding our solutions into the platforms of others.”

Christian Lanng, CEO and Co-founder of Tradeshift, adds: “The world’s biggest trade bank and the world’s largest trade network are joining forces. Our deepening partnership with HSBC delivers a strong foundation from which to scale and accelerate our vision of a trade network that creates economic opportunity for businesses everywhere.

“HSBC’s reputation and global infrastructure bring instant credibility and broad appeal to any financial solutions brought to market through the Tradeshift platform. It’s transformative, and it’s a tremendous validation of the innovation and product architecture we have developed over the past decade.”

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