San Francisco, March 20, 2014(People’s Daily Online)----Founded in Copenhagen and headquartered in San Francisco, Tradeshift has more than 5 million companies on its platform globally, and now it eyes the Asian market.
In 2013, the company opened its Chinese offices in Suzhou. It closed $75 million this February in Series C growth funding from Singapore’s Scentan Ventures and it will use the funds to explore the Japanese market with offices opening in Tokyo.
Christian Lanng, CEO of Tradeshift, sees this as “another growth milestone” in the company’s global extension. On February 25, he wrote on the website: “I announce Tradeshift is taking one giant step forward toward expanding our global footprint and our mission of connecting every business on the planet.”
Lanng once mentioned his experience in China last year that he could feel the difference between China’s market and that of America and Europe. But he said Chinese understand it quickly. Social network is the matter. He said that China’s “Guanxi”, or connections, coincides with Tradeshift’s social characteristics. As a platform for all your business interactions, Tradeshift lets businesses send invoices and get payments from suppliers via its platform, using connections between companies to verify the transactions in a manner similar to social networks.
For smaller companies, a free account with apps like e-invoicing can work as a route to quicken the payment process and allow them to securely link in other key processes like online accounting in seconds. “And that is exactly what our product development teams will be focusing on in Suzhou and Tokyo - building applications that support these localized markets,” said Lanng.
He added that China is the largest exporter in the world. The needs and struggles of small businesses trying to partner with larger domestic and international customers are deeply understood. Japan has thriving economy and it is the third largest in the world. But many people feel now is the time to introduce new approaches to business traditions that have seen little change for decades. “The Tradeshift platform is now positioned to help Asia achieve its goals.”
Tradeshift was founded in 2009 and launched in 2010, with the goal to change the way business is done. Techcrunch, the website focusing on technology information reported in 2010 that “TradeShift launches to disrupt an entire financial system.” Now it eyes Asia.