Tradeshift, a company that provides free electronic invoicing along with tools for managing payments and buyer-seller relationships, is announcing today a new $75 million funding round.
Tradeshift, a startup that began life in Copenhagen, and has expanded to the US and throughout Europe, is now heading to Japan. The company has raised the $75 million in venture funding from Scentan Ventures, a venture capital firm based in Singapore.
The deal will fuel Tradeshift’s expansion into Japan, starting with an office in Tokyo. Scentan will help out on the strategic side, giving Tradeshift a hand with recruiting and product development for the local market. In exchange, Tradeshift will offer Scentan exclusive rights to product development, sales marketing and servicing the Tradeshift platform in Japan.
Prior to this, Tradeshift, which offers software for business-to-business sales and collaboration, had raised $37 million in venture funding from Notion Capital, Ru-net, Kite Ventures, Intuit and PayPal. The company had opened an office in China in 2013.