San Francisco-based invoicing startup Tradeshift raised $75M of Series D financing, led by Data Collective with participation from fellow new investors HSBC, American Express ventures, CreditEase and Pavilion Capital. Tradeshift runs a platform that helps companies simplify and improve their expensing systems with external contract partners.
In terms of business metrics, Tradeshift said it now serves more than 800,000 users — that means the total number of employees from its customer base, not actual companies — and it claims to have “dozens” of Fortune 500 clients. Other notable clients include the Danish government and UK national health service. The company also revealed that the volume of transactions made on its platform grew 250 percent year-on-year between 2014 and 2015. It didn’t provide a raw figure but it did tell the Journal that it is on course for $50 million in annual (company) revenue this year.