Goldman Sachs and PSP Investments have led a $250 million funding round for supply chain payments and marketplaces firm Tradeshift.

Tradeshift enables supply chain payments for over 1.5 million businesses around the world, including Air France-KLM, DHL, Fujitsu, HSBC, Siemens, Societe Generale, Unilever and Volvo. The company offers alternatives for trade financing, spend and receivables management, lending and payments and private marketplaces.

The funding round will be used for core strategic initiatives, including continued global expansion of Tradeshift in Europe and Asia; growth of transacted volume and value across its platform; and strategic investments into emerging technologies, including blockchain and artificial intelligence.

“We have always believed that the future of supply chains is 100 percent digital and that connecting trade is just the first step to a digitally connected economy,” said Christian Lanng, chief executive and co-founder of Tradeshift. “This investment will enable us to continue our rapid growth and consolidate our leadership position.”

Additional participants in the round included HSBC, H14, GP Bullhound and Gray Swan, a new venture company established by Tradeshift’s founders. The new round of financing brings Tradeshift’s total funding to more than $400 million, with company valuation now at $1.1 billion.

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