Online trade finance outfit TradeCard has completed a $10 million equity round led by Warburg Pincus and recruited a new worldwide head of sales.
Announcing the funding and the appointment of Bradford Scheller as new head of sales, TradeCard chairman and CEO Kurt Cavano says the company has recorded a 100% increase in membership to almost 600 firms in the past year and a monthly revenue growth of 15%. Purchase orders initiated through the TradeCard system have shown monthly increases of 40% over the past quarter, adds Kavano.
He says: "This additional funding reaffirms that our investors see our achievements and are committed to our success. The appointment of Brad Scheller with his extensive experience in the supply chain space will ensure that we continue to grow our business."
Scheller joins TradeCard from CSC Consulting where he was managing partner of the supply chain practice. Previously, Scheller held sales and executive level positions with IRI, Numetrix, Unisys and IBM during a 22-year career.