B2B eCommerce and FinTech platform Tradeshift has appointed Iain Balchin as its newest chief financial officer (CFO).
Balchin has experience in helping to elevate FinTech firms, Tradeshift said in a Tuesday (Feb 13) press release. During his tenure as the interim CFO at crypto payment platform Ramp Network, he successfully led a $70 million Series B fundraising, the release said.
His track record also includes CFO positions at payments optimization platform Ixaris (acquired), neobank WiZink and WorldRemit, where he led a restructuring of its finance division, according to the release.
Most recently, Balchin served at energy storage company Corre Energy, where he led a successful equity raise to enable further development of major renewables projects, Tradeshift said. Balchin has also worked in senior finance roles with St James Place Wealth Management, Lloyds Banking Group, BNP Paribas, AIG, Standard Chartered and Credit Suisse, per the release.
“Tradeshift has incredible foundations for growth,” Balchin said in a statement. “With over a million businesses using Tradeshift for transactions globally, there are substantial opportunities to expand monetisation across the Tradeshift network through embedded financial services and marketplace commerce capabilities. I’m eager to contribute to a great team at the onset of a promising new chapter in Tradeshift’s journey.”
“Iain’s experience in scaling disruptive businesses will be invaluable in helping us achieve sustainable growth, scale, and profitability,” Tradeshift CEO James Stirk said in the announcement.
“Following our recent announcement of the joint venture with HSBC, we have a significant opportunity to embed revenue-generating value into every transaction across the Tradeshift network,” Stirk added. “I have every confidence that the team we have in place today is the one that will help us reach our full potential.”
In August, Tradeshift announced a new partnership with HSBC to develop embedded finance solutions and financial services apps.
The agreement is part of a funding round, and HSBC has agreed to invest $35 million in Tradeshift and join its board, PYMNTS reported last year, citing a press release.
Per the collaboration, the two companies will roll out digital solutions across Tradeshift and other platforms, including payment and FinTech services embedded into trade, eCommerce and marketplace experiences, PYMNTS reported. The joint venture is expected to launch early this year.
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