Tradeshift Inc. announced a partnership with Intuit Inc. The partnership includes a significant strategic investment from Intuit into the San Francisco and Copenhagen based B2B platform provider. The investment was made at an increased valuation relative to TRADESHIFT's previous investment round, reflecting the growth and progress the company has made over the past year. The partnership marks a watershed moment for TRADESHIFT, a major player in an industry striving to deliver large networks of connected suppliers to enterprise customers.

Intuit's SMBs customer base of 5 million US businesses, combined with TRADESHIFT's current network of more than 150,000 SMBs, will together create one of the largest networks of connected suppliers. The planned integration of Intuit's accounting and payments products with TRADESHIFT'S electronic trading network will streamline commerce between Intuit's large SMB customer base and the participants on TRADESHIFT'S electronic trading network. SMBs using QuickBooks will find it easier and less time consuming to comply with their enterprise customers' e-invoicing mandates.

Large enterprises will find that more of their suppliers will be willing to participate due to the reduced cost and friction enabled by the planned integrations.