E-invoicing company Tradeshift raises $17 million at $137 million valuation

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From Russia with love: two Moscow-based investment firms have led a $17 million funding round for B2B social networking and e-invoicing company Tradeshift, valuing the company at $137 million according to a press statement distributed earlier this morning.

The investors are ru-Net and Kite Ventures, with earlier backer Notion Capital also participating.

Tradeshift basically connects businesses – of all sizes,they’re keen to point out – to help them work together and collaboratively manage things like invoicing and cash flow.

We’ve covered the company quite often in the past, starting with their launch and when early Skype investor Morten Lund joined the company as an advisor, and later when former MySQL CEO MÃ¥rten Mickos and early Last.fm investor Stefan Glaenzer invested.

We later reported that PayPal may have quietly backed the company, too, and again when they picked up a $7 million round of institutional funding back in May 2011.

Its solutions are currently being used by 60,000 companies in nearly 190 countries, the company claims.

The funds will be used to expand Tradeshift’s operations into new territories, including North America, and to enhance its platform’s functionality with a range of complementary products.

Tradeshift currently boasts offices in Copenhagen and London.