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Tradeshift appoints Iain Balchin as new CFO
Fri, 16th Feb 2024

Tradeshift, a B2B e-commerce and fintech platform, has announced the appointment of Iain Balchin as the new Chief Financial Officer (CFO). Balchin will also join the board of directors alongside Tradeshift's CEO, James Stirk. This appointment marks a significant change in the executive leadership team, with the company focusing on network growth and monetising its marketplace and embedded fintech services.

With over 25 years of experience as a senior financial executive across numerous sectors, including fintech, financial services and wealth management, Balchin has a robust record of assisting scaling fintech organisations to reach new heights. His previous roles include interim CFO at crypto payment platform Ramp Network, where he led a successful $70 million Series B fundraising, and a variety of CFO positions at companies including payments optimisation platform Ixaris, neobank WiZink, and WorldRemit.

Before joining Tradeshift, Balchin was at Corre Energy, a Dublin-listed energy storage company, where he spearheaded a successful equity raise which paved the way for further development of significant renewables projects. He has also held Group CFO positions at AIM-listed publishing company XL Media and wealth management company Ascot Global, which he guided from listing to eventual sale. His other roles have been with established entities such as St James Place Wealth Management, Lloyds Banking Group, BNP Paribas, AIG, Standard Chartered and Credit Suisse.

Balchin commented on his appointment: "Tradeshift has incredible foundations for growth. 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."

As part of a reshuffled executive team since Stirk's appointment in September, Balchin joins seasoned software industry leader, Jim Modak, who has been appointed Chief of Strategy & GTM, and Tradeshift co-founder Gert Sylvest, who will lead product development across the company’s complete solutions portfolio.

CEO at Tradeshift, James Stirk, states: "Iain’s experience in scaling disruptive businesses will be invaluable in helping us achieve sustainable growth, scale, and profitability. 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."