Tradeshift, a San Francisco, CA-based payments and marketplaces have now acquired Bableway, a cloud integration technology platform. The amount of the deal has not been disclosed.
The company which is led by the Francois Van Uffelen. Babelway has provided with a more standardized way large businesses to connect the disparate system with speed. Now, the company has joined some of the more forces with the Tradeshift’s business commerce platform, that even enables any business in the world to connect to the digital global trade. Bableway technology will now be offered as Tradeshift Link.
Tradeshift Link allows the banks and third-party app providers to connect to the Tradeshift network to offer some of the financial solutions such as the financing and early payment services, accelerating the integration of the disconnected system which is used for the B2B buying, selling and paying.
Tradeshift which is led by the Christian Lanng provides the supply chain payments solutions and marketplaces to allow the buyers and suppliers to digitize all their trade transactions, collaborate on every process and connect with any supply chain app.
Around more than 200 companies across the 190 countries use the Tradeshift to process over half a trillion USD in the transaction value.
“We have some sort of believe that B2B commerce should be connected, in the form of both the digital and flexible,” said Tradeshift CEO and Co-founder Christian Lanng in an interview. “We’ve been partnering with Babelway from the past six years and in that time have seen the massive value with respect to their technology provides for our end users and clients. This significantly extends the capabilities of our platform and takes the friction which is also totally out of integration.”
Some of the venture capitalists have propelled growth for the Tradeshift as well. Before that, the company has secured $250 Million in the funding round of Series D by the Goldman Sachs and Public Pension Investments.
Tradeshift also emphasized its focus on artificial intelligence (AI) and blockchain as it augments its supply chain payments capabilities.
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