Tradeshift Achieves Exceptional Growth
January 23, 2019
Q4 result highlights include 49 new enterprise customers, new annual bookings growth of 250 percent and eleven quarters of successive growth.
reported results from the fourth quarter of 2018, marking the eleventh
quarter in a row of successive growth and beating targets.
YoY new bookings grew 250 percent
New total contract value grew by $59M in Q4
YoY revenue grew 178 percent (trailing 12 months)
Gross Merchandise Volume (GMV) more than doubled, growing by 112 percent YoY
Tradeshift Go experienced high growth with 12 deals signed in Q4
Signed App partner Transfermate, allowing Tradeshift customers to easily receive and make foreign currency payments
Expanded Partner ecosystem with two additional BPO partners signed
The company’s customer roster
continued strong growth this quarter adding a record 49 new customers,
including Charter Hall, HSBC, Econocom and more.
HSBC, Santander and other major banks partnered with the company’s newly launched end-to-end payments solution, Tradeshift Pay. The launch was followed up with the announcement of six major product updates, including funder-agnostic early payment, the use of AI for accelerating the AP process, and blockchain-based financing technology.
Added over 100 new customers, including Hertz, Shiseido, ECU, and Fortune 500 leaders in retail apparel, agriculture, engineering and construction, hospitality, travel and food delivery.
Expanded and extended business with clients like ADM, DPDHL, Vorwerk, Hilti, NHS SBS and more
Expanded app ecosystem by adding a key partnership with Coface, a global credit insurer, launched FRDM (formerly named Made In a Free World) app to help businesses detect and mitigate human trafficking in their global supply chains and signed Transfermate as an App Partner to facilitate cross-border payments. Some other Apps partnerships that were added in FY18 were Kompany, FreightOS, and VATBox