Tradeshift Secure $7 Million in Funding for Business Social Networks

Tradeshift has managed to secure $7 million in funding for their social network for businesses. The funding round came from Notion Capital. Tradeshift have already had seed funding from Paypal who are their technology partner.

Tradeshift is a growing player in the business social network market with customers including the NHS, and the French and Irish governments.

Tradeshift was originally created in 2010 by pioneers in open e-business who created the e-invoicing system for the Danish government, it now covers over 180 countries with more than 50,000 registered businesses and is the world’s fastest growing business social network, with growth in 2011 of more than 60% per month.

“Tradeshift is undoubtedly one of the most exciting businesses we’ve come across since setting up Notion in 2009,” says Stephen Chandler, Managing Partner at Notion Capital. “Tradeshift is led by a team who are real subject matter experts in their field, extremely strong both technically and commercially and have a very clear vision of where they want to take the business – it has the potential to become the de facto business social network for B2B communications and processes. Tradeshift is the single most disruptive proposition to this market and is set to play a major part in its transformation.”

Tags: business social network notion capital social network tradeshift