What Tradeshift does

Tradeshift is a cloud-based B2B business network founded in 2009 and headquartered in San Francisco, with a European founding office in Copenhagen and operations across 14+ countries. The company operates a platform-plus-modules architecture anchored on an AI-powered Accounts Payable Automation and e-Invoicing Platform, a Global Compliance e-Invoicing Solution covering 70 countries with clearance capabilities in 12 jurisdictions, and a Procure-to-Pay suite spanning RFQ through remittance. Supporting modules include the Ada AI coding engine (capable of automating up to 99.5% of AP workflows), the Business Firewall for validation and anomaly detection, the Reporting & Analytics App built on Amazon Quick Suite and Amazon Q, Babelway (an owned B2B EDI integration platform), Tradeshift Go virtual credit cards, and a B2B marketplace. The platform runs on AWS infrastructure, with document-level AI suggestions powered by Anthropic's Claude on Amazon Bedrock, processes 10 million invoice documents per month across a network of 1 million+ suppliers, and has cleared $240 billion in cumulative digital transaction value.

The company serves three tiers: large global enterprises as the primary segment (with named customers including Air France, Schaeffler, Société Générale, Kuehne+Nagel, DHL, Le Bon Marché, Disneyland Paris, LINE, Mitsubishi Corporation, and NHS UK), mid-market companies requiring scalable AP automation, and small and medium suppliers acquired through a freemium base tier. Revenue is generated through enterprise subscription licenses (annual or multi-year, quote-based on company size and transaction volume), transaction-based per-invoice fees, and the freemium supplier tier that drives network growth. Distribution combines direct enterprise field sales with strategic channel partnerships, notably the HSBC SemFi joint venture for embedded invoice financing (formed October 2024) and a strategic collaboration with SAP announced March 2025, alongside self-serve onboarding for smaller suppliers. The company holds ISO 27001, SOC 1, SOC 2 Type 2, ISAE 3402, GDPR-aligned practices, and is a certified PEPPOL Access Point since 2014, with SECNUM certification supporting its French PA registered status (registration #0036).

Tradeshift's strategic positioning is shaped by an inflection in mandatory global e-invoicing regulation. The company is among the first providers to achieve Plateforme Agréée immatriculée définitive status in France ahead of the September 2026 B2B mandate, has launched Germany e-invoicing compliance (inbound December 2024, outbound March 2025) ahead of the January 2027 mandate, and surfaces Spain's January 2027 deadline prominently on its homepage. Mike Cowles was appointed CEO in January 2025, signaling a new phase of execution centered on AI differentiation (Ada 2.0, agentic AI roadmap), compliance-led revenue capture, and embedded finance distribution through HSBC. Total disclosed funding across the company's history is approximately $1.13 billion, with the most recent round a $70 million raise in July 2023 led by HSBC.

Name

Tradeshift

Legal name

Tradeshift Holdings, Inc.

Website

https://tradeshift.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Tradeshift is a cloud-based B2B network that provides AI-powered accounts payable automation and e-invoicing compliance across 70 countries, serving large global enterprises, mid-market firms, and a network of 1 million+ suppliers through subscription, transaction-based, and freemium pricing.

Ownership category

akta.pro rank

Product category

Cloud-based B2B E-Invoicing and Source-to-Pay Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Custom Computer Programming Services (541511)

SIC

Services-Computer Programming Services (7371)

akta.pro primary industry

Invoicing, Billing & Accounts Receivable Automation (FSAGAJAC)

akta.pro secondary industries

Accounts Payable Automation & Supplier Payments (FSAGAJAD), Trade & Invoice Payments (Cross-Border B2B) (FSAMAIAL), B2B Marketplaces & Wholesale Platforms (BPAMAGAD)

Keywords

• E-invoicing software
• Accounts payable automation
• Source-to-pay platform
• B2B marketplace platform
• Global compliance solutions

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices14 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. Subscription Licenses: Annual or multi-year subscription fees for platform access based on company size and transaction volume. Enterprise customers receive dedicated support, custom integrations, and advanced AI features.
2. Transaction-based Fees: Per-transaction fees based on invoice volume processed through the platform. Provides scalable pricing aligned with customer usage and transaction volumes.
3. Freemium Base Tier: Free basic tier providing limited invoice processing and core e-invoicing compliance features, enabling SME acquisition and supplier network growth.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Tradeshift sells a cloud-based B2B business network and source-to-pay platform that automates accounts payable processing and electronic invoicing for enterprises and their suppliers. Its core products include an AI-powered AP Automation and e-Invoicing Platform, a Global Compliance e-Invoicing Solution covering 70 countries, and a Procure-to-Pay suite, with the Ada AI coding engine and Business Firewall providing automated invoice coding, validation, and fraud detection.

Product overview

Tradeshift offers a unified platform-plus-modules architecture centered on accounts payable automation and global e-invoicing compliance. The core AP Automation and e-Invoicing Platform handles invoice capture, processing, and ERP integration, while the Global Compliance Solution provides country-specific e-invoicing mandates across 70 countries. Supporting modules include Ada (AI coding engine) for automated invoice processing, the Reporting & Analytics App for BI and conversational AI insights, Business Firewall for validation, First Invoice Onboarding for supplier enablement, and SemFi (via HSBC joint venture) for embedded invoice financing. Additional products include Procure to Pay, Virtual Credit Cards, B2B Marketplace, Babelway (EDI integration), and AskAda (GenAI assistant for sellers). The platform supports 26 languages and processes 10 million invoice documents monthly across 190 countries.

Differentiator

Problem solved

Functional benefit

Brands

• SemFi: Embedded invoice financing joint venture with HSBC
• Ada
• AskAda
• Business Firewall
• Tradeshift Go
• Babelway

Products and services

• AP Automation and e-Invoicing Platform AI-powered accounts payable automation software that reduces invoice processing costs by 90%. Captures invoices in any format (e-Invoicing, PDF, OCR, PO-flip), performs multi-way matching, runs automated approval workflows, and integrates with ERP systems. Targeted at enterprise finance and procurement teams.
• Global Compliance e-Invoicing Solution Compliance-as-a-Service e-invoicing solution providing regulatory compliance in 70 countries and invoice clearance in 12 countries. Includes pre-configured connectors per compliance country, support for post-audit and Continuous Transaction Control (CTC) clearance models, and certified PEPPOL access point functionality. For enterprises operating across multiple jurisdictions.
• Procure to Pay (P2P) Source-to-pay solution covering the full procurement cycle from RFQ through payment. Includes document types: Request for Quote, Quote, Purchase Request, Purchase Order, Change Order, Blanket Purchase Order, Goods Receipt, Invoice, and Remittance Advice. For procurement and finance teams managing end-to-end purchasing workflows.
• Virtual Credit Cards (Tradeshift Go) Corporate virtual credit card solution enabling buyers to issue virtual cards for business payments as part of Tradeshift Go. For enterprises managing supplier payments and corporate spend.
• B2B Marketplace B2B e-commerce marketplace platform enabling secure trading between buyers and sellers with improved cash flow management. Connects enterprise buyers and suppliers on a digital marketplace.
• Babelway B2B EDI integration platform (wholly owned Tradeshift subsidiary) for electronic data interchange, enabling conversion between EDI formats and support for multiple standards. Available as a standalone DIY product alongside the full Tradeshift platform.
• SemFi Embedded invoice financing product from the HSBC-Tradeshift joint venture, embedding HSBC payment, trade, and finance solutions into Tradeshift's platform. Enables supply chain financing, digital invoice financing, and virtual card solutions for improved working capital access. For enterprise buyers and their suppliers.
• Reporting & Analytics App AI-powered business intelligence and analytics application built on Amazon Quick Suite and Amazon Q. Provides pre-built dashboards for buyers (connections, documents, workflows, AP KPIs) and sellers (Payment Predictor), with conversational AI for natural language querying across multiple languages. For buyer and seller customers on the Tradeshift platform.
• Plateforme Agrééée (PA) Services Certified French e-invoicing service authorized to connect to the PPF government platform and clear invoices. Includes invoice clearance, ERP integration, e-reporting, and compliance controls for the French e-invoicing mandate.
• Germany E-Invoicing Compliance (Outbound) Germany B2B e-invoicing mandate compliance with outbound flows covering XRechnung, ZUGFeRD, Factur-X, and Peppol-BIS Billing formats. For businesses needing to issue compliant German e-invoices.
• Germany E-Invoicing Compliance (Inbound) Germany inbound e-invoicing flow enabling businesses to receive EN-compliant e-invoices in XRechnung, ZUGFeRD, Factur-X, and Peppol-BIS Billing formats. For businesses receiving e-invoices under German mandate.
• French PA Pilot Testing (Air France) Pilot phase of Tradeshift's French Plateforme Agrééée e-invoicing clearance service conducted with Air France in preparation for the September 2026 mandate rollout for large and mid-sized companies.

Quantifiable outcome

• 90% reduction in invoice transaction costs
• +3 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability10 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• SAPcoreTechnology or Integration · 1 March 2025Strategic collaboration announced March 2025 to integrate Tradeshift's e-invoicing and AP automation capabilities with SAP's source-to-pay ecosystem. Enables joint customers to leverage Tradeshift's global e-invoicing network within SAP environments.
• HSBCcoreStrategic or Co-development Partner · 1 October 2024Joint venture 'SemFi' established in October 2024 for embedded finance capabilities, enabling supply chain financing and embedded payment solutions within the Tradeshift platform. HSBC provides banking infrastructure and capital while Tradeshift contributes its supplier network and transaction data.
• BabelwaycoreTechnology or IntegrationBabelway is Tradeshift's B2B EDI integration platform subsidiary, enabling electronic data interchange capabilities for customers requiring EDI connectivity with trading partners.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• SAP Ariba: SAP's source-to-pay and B2B marketplace platform is the most entrenched competitor to Tradeshift in enterprise e-invoicing and procurement automation, serving a similar large-enterprise buyer base with overlapping functionality.
• Coupa Software: Coupa offers a comprehensive business spend management (BSM) platform covering procurement, invoicing, and AP automation. It competes directly with Tradeshift for enterprise source-to-pay budgets and is now privately held under Thoma Bravo with renewed investment capacity.
• Basware: Basware is a long-established Finnish provider of AP automation, e-invoicing, and procurement solutions, with deep European enterprise coverage. It is a direct competitor in the same procurement-to-pay category and overlaps significantly in target customers.
• Tipalti: Tipalti provides AP automation and global supplier payments for mid-market and enterprise customers, including invoice capture, approval workflows, and cross-border payments. It directly overlaps with Tradeshift's core AP automation and supplier payment capabilities.
• Bill.com: Bill.com offers AI-powered AP and AR automation with a strong SMB and mid-market focus. It overlaps with Tradeshift's invoice processing, approval workflows, and B2B payment capabilities, particularly for the SME tier on Tradeshift's network.
• Tungsten Network (Kofax/AP Automation): Tungsten Network (now part of Kofax/Everest Group portfolio) is an e-invoicing and AP automation network serving large enterprises globally. It competes directly with Tradeshift's compliance-focused e-invoicing and B2B network offerings.
• HighRadius: HighRadius provides AI-powered order-to-cash and treasury management, with expanding AP automation capabilities. It competes with Tradeshift in invoice processing, automation, and embedded finance for the enterprise office of the CFO.
• Pagero: Pagero is a PEPPOL-certified e-invoicing and business document exchange network, with strong regulatory compliance positioning in Europe. It is a direct competitor to Tradeshift's e-invoicing compliance business, particularly for the French and German mandates.

Emerging players

• Stampli: Stampli is a fast-growing AP automation platform focused on invoice collaboration and AI-driven workflows for mid-market and enterprise. It is an emerging competitor to Tradeshift's core AP automation product for finance teams.
• Avalara: Avalara provides tax compliance automation including e-invoicing mandate compliance in select markets. While focused primarily on indirect tax, it increasingly overlaps with Tradeshift in regulatory compliance e-invoicing flows for multinational customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/tradeshift
• LinkedInlinkedin.com/company/tradeshift
• Xx.com/tradeshift
• Facebookfacebook.com/Tradeshift

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds14 records

Investors33 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tradeshift