Tradeshift Signs Deal With CapitalAid -- Launches $3bn Factoring Business on Top of Platform Aims to Solve Funding Needs for SMEs Across EU and UK LONDON, UNITED KINGDOM -- (Marketwired) -- 09/10/13 -- Tradeshift, a platform for all business interactions, announced a new deal with CapitalAid to launch a $3bn factoring business to help ease lending to SMEs. The deal will fund B2B transactions on the Tradeshift platform across all of Europe with a strong focus on the UK. Tradeshift, which is free for small and medium enterprises (SMEs) and has the fastest growing network of connected businesses, is perfectly positioned to facilitate this funding offering. The CapitalAid fund will be fully embedded into the platform, which already connects hundreds of thousands of suppliers to large, global enterprises such as The NHS, Lear, DHL, and Vestas -- to name just a few. SMEs will benefit from improved access to cash. At the same time large enterprises will gain from building stronger, more cash solvent supply chains. The current funding environment in this space has not been an easy one for small and medium sized businesses to navigate. As noted by the Guardian just this summer, lending to such businesses, despite the recent Funding for Lending scheme, has consistently fallen over the past year. Many feel that the banks' resistance to provide such funding is stalling much needed economic growth across the UK and the rest of Europe. "Access to cash has always been one of the hardest, yet most critical components to sustaining and growing any small and medium sized business. In recent years we've seen the rise of alternative funding options -- from private funds to crowdsourcing. Tradeshift is in a unique position to bring another alternative financing option to businesses across Europe and the UK. This was the perfect opportunity to have a fund created for the Tradeshift platform," commented Tradeshift CEO, Christian Lanng. "CapitalAid is bringing a new funding solution to the market which is simple, fast and competitive and we're confident its positive impact will be felt throughout Europe and the UK. There is an urgent need amongst small and medium sized businesses, not only for cash and liquidity, but also for innovation in the financing and lending space which is dominated by dinosaurs. The current models are slow and outdated and are failing those needing to sustain and develop their businesses. CapitalAid will address this failing and deliver the cash and liquidity businesses need in order to prosper and grow," stated CapitalAid CEO, Torben Pedersen. The Tradeshift platform connects over 500,000 businesses worldwide and processes tens of millions of B2B transactions every year. The seamless integration of this new fund, which is backed by several large hedge-funds, into Tradeshift will allow users of the software to benefit from real-time credit analysis based on the data that exists within the platform -- uniquely from both buyers and suppliers. About Tradeshift Tradeshift is platform for all your business interactions. It helps companies run more efficiently by harnessing the power of their network to create new value from old processes like invoicing, payments and workflow. Launched in 2010, Tradeshift connects 500,000 companies across 190 countries, with over ten thousand more joining every month. Businesses on the platform include DHL, the National Health Service (NHS), French Government and Vestas Wind Systems. Tradeshift was awarded Best Enterprise at The TechCrunch Europa awards and Most Innovative Solution by Financial-I. TechCrunch also recognised it for "Kicking Ass Globally." About CapitalAid CapitalAid is an innovative provider of capital to small and medium size businesses trading on electronic invoicing networks. The CapitalAid service will address the cash-flow problems faced by most businesses today, by offering them instant payment on their invoices with a ONECLICK solution covering the entire approval process. We want to disrupt the current credit market by offering instant cash against invoices -- cheaper & faster than any bank can do today. The simplicity and instant nature of our product will remove the risk, time and hassle of going through the lengthy form-based credit approval processes required by banks. By using CapitalAid to improve cash-flow, our customers can instead focus their time on sustaining and growing their businesses. Press contact Peter Adams email@example.com (415) 794 - 5861 Communications Manager TRADESHIFT
Tradeshift Signs Deal With CapitalAid -- Launches $3bn Factoring Business on Top of Platform
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