All posts tagged: Tradeshift

Tradeshift co-founder accused of sexual assault by company, allegations he denies

Tradeshift co-founder accused of sexual assault by company, allegations he denies

Tradeshift, a late-stage fintech startup that has raised over $1 billion in venture and debt, has dismissed its co-founder Christian Lanng, citing “serious allegations of sexual assault and harassment” and “gross misconduct on multiple grounds,” according to a company statement posted on Tuesday. Lanng has vehemently denied the allegations. Tradeshift appointed former chief revenue officer James Stirk as interim chief executive. Tradeshift — and its B2B fintech platform for payments, supply chain procurement and marketplace services between buyers and suppliers — has attracted investment from a wide range of investors, including strategic backers HSBC, Goldman Sachs, American Express and Intuit. Most recently, HSBC invested $35 million in July. A spokesman said Goldman Sachs Group sold its shares in 2021. HSBC declined to comment on recent events. Tradeshift’s statement said the company became aware of the allegations in late August and dismissed Lanng on September 1. The U.S.-Danish company said it has set up a “dedicated and anonymous whistle-blowing line” for its 800 employees. In August, Lanng, while still running Tradeshift, launched a separate venture called Beyond …

Tradeshift raises M, launches financing JV with HSBC focused on B2B trade

Tradeshift raises $70M, launches financing JV with HSBC focused on B2B trade

Global trade has been in a slump, in part due to ongoing economic pressures in the wake of the Covid-19 pandemic. Now, with some glimmers of recovery on the horizon, a startup that’s built business around tools to enable B2B trading has raised some money and is launching a JV that it hopes will kickstart further activity. Tradeshift — a platform for building B2B payments, supply chain procurement and B2B marketplace services — has raised $70 million, money that it will be using to scale its business network, which it says already more than 1 million users, including big names like food giant Danone and the UK’s National Health Service. Areas where it said it plans to invest include adding more SaaS, B2B marketplace, and embedded financial services. It is also considering some acquisitions, it added. The round is being led by HSBC, which is putting in $35 million, with participation also from AYTK Limited, LUN Partners Group, Fuel Venture Capital, Doha Venture Capital LLC, Notion Capital, IDC Ventures and The Private Shares Fund. All …