San Francisco, Feb. 14, 2024 (GLOBE NEWSWIRE) — Tradeshift, the B2B e-commerce and fintech platform, today announces that Iain Balchin has joined the company on a permanent basis as Chief Financial Officer (CFO). Iain brings over 25 years of experience as a senior financial executive across various sectors, including fintech, financial services and wealth management. Iain will also join Tradeshift CEO James Stirk on the company’s board of directors.
Iain has a notable record in helping scaling fintech businesses reach the next level. As interim CFO at crypto payment platform Ramp Network, he successfully led a $70 million Series B fundraising during a challenging market period. His track record also includes CFO positions at payments optimization platform Ixaris (acquired), neobank WiZink, and WorldRemit, where he spearheaded finance division restructuring to position the company for future investment.
Iain joins Tradeshift from Dublin-listed energy storage company Corre Energy, where he led a successful equity raise to enable further development of major renewables projects. Before this, he held Group CFO positions at AIM-listed publishing business XL Media and wealth management firm Ascot Global, which he took from listing to eventual sale. Iain has also worked in senior finance roles with St James Place Wealth Management, Lloyds Banking Group, BNP Paribas, AIG, Standard Chartered and Credit Suisse.
‘Tradeshift has incredible foundations for growth,’ said Iain. ‘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 will be a key member of a new-look executive leadership team assembled since James Stirk’s appointment as CEO in September. Jim Modak, a seasoned software industry leader who has raised over $1.2bn in equity capital during a 40-year career, has joined Tradeshift as Chief of Strategy & GTM. Tradeshift co-founder Gert Sylvest will lead product development across Tradeshift’s complete solutions portfolio.
“Iain’s experience in scaling disruptive businesses will be invaluable in helping us achieve sustainable growth, scale, and profitability,” said James Stirk, CEO at Tradeshift. “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. I have every confidence that the team we have in place today is the one that will help us reach our full potential.”
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About Tradeshift
Tradeshift is the business e-commerce and fintech platform that redefines how B2B buyers and suppliers connect, trade and grow. The Tradeshift network connects over a million companies, enabling them to transact seamlessly and digitally with customers and suppliers anywhere in the world. Our unique blend of e-invoicing, marketplace commerce and embedded fintech services gives businesses the tools to streamline finance and procurement processes, access new markets, source new suppliers, and optimize working capital to suit their needs. All in one place. Find out more at: Tradeshift.com
- Iain Balchin, CFO, Tradeshift