King & Spalding advised online B2B invoice support and trade finance platform Tradeshift Holdings Inc. on a new, jointly-owned business with HSBC focused on the development of embedded finance solutions and financial services apps.
The new joint venture will deploy a range of digital solutions across Tradeshift and other platforms. This will include payment and fintech services embedded into trade, e-commerce and marketplace experiences, and will help enable Tradeshift to scale its business commerce proposition across the globe. More details about the joint venture will be announced ahead of its planned launch in early 2024.
As part of this agreement, HSBC will make a $35 million investment into Tradeshift in two stages and will join its board. The agreement is part of a funding round which is expected to raise a minimum of $70 million from HSBC and other investors. Further information can be found here.
The cross-office team was led by CFI partners Marcus Young and William Charnley in London and Dan Kahan in Miami.