Tradeshift and HSBC Collaborate to Launch Embedded Finance Joint Venture

Tradeshift, a prominent fintech company, is joining forces with HSBC to establish an innovative joint venture aimed at advancing embedded finance solutions and financial services applications, writes Alex Clere for FinTech Magazine. In a significant move, HSBC will inject a substantial investment of US$35 million into Tradeshift, fostering the growth of this dynamic partnership.

The collaboration envisions the creation of a range of cutting-edge digital solutions integrated into Tradeshift’s cloud-based business platform. These solutions will encompass various aspects, including payment and fintech services, seamlessly incorporated into trade, e-commerce, and marketplace experiences. This strategic alignment will not only facilitate smoother trade operations but also propel Tradeshift’s business commerce proposition into new markets, further strengthening its market presence.

Barry O’Byrne, CEO of Global Commercial Banking at HSBC, emphasized the historical focus of HSBC on enabling global trade and its eagerness to partner with Tradeshift to utilize groundbreaking technology for enhancing trade efficiency. He stated, “This agreement supports our strategy of being a digital-first bank, which includes our commitment to partnering with fintechs and embedding our solutions into the platforms of others.”

Christian Lanng, CEO and Co-founder of Tradeshift, shared his excitement about the collaboration, describing it as a synergy between the world’s largest trade bank and the world’s largest trade network. He highlighted that this partnership with HSBC provides a robust foundation for scaling and realizing their vision of a trade network that fosters economic opportunities for businesses globally. Lanng further praised HSBC’s established reputation and expansive infrastructure, which would add credibility and broad appeal to financial solutions introduced through the Tradeshift platform.

The joint venture underscores the dynamic evolution of financial technology and its integration into the broader financial landscape. Tradeshift’s expertise in cloud-based business solutions and HSBC’s historical focus on trade create a potent combination that promises to reshape financial services.

The finer details of this innovative joint venture will be unveiled early next year, creating anticipation within the industry for the transformative possibilities it holds.