Tradeshift, the Copenhagen based social invoicing startup (with additional offices in Paris, London, Amsterdam and San Francisco), today announced that it has secured $17 million in funding led by the Russian investment companies ru-Net and Kite Ventures. The round is also supported by existing investor Notion Capital, which increases its stake in the young company. The latest round values Tradeshift at $137m, making this one of the largest investments in a European tech startup this year, while Notion’s increased stake reflects its belief in the growing opportunity.
According to Tradeshift the investment will be used to accelerate product development, expand the company into North America (in the beginning of next year) and further drive large enterprise adoption of the platform.
Tradeshift was founded in 2009 and offers a free web-based invoicing tool whis is a great alternative to creating your invoices on paper or in an office package. With Tradeshift you can connect to your business contact and build a network to allow you to exchange documents and live messages. You can add and invite business partners to join your network just as easily as you do on social networks.