PayPal May Have Quietly Plowed +$16 Million Into “The Next PayPal,” TradeShift
October 11, 2010 at 19:50 PM EDT
When the media calls you "The Next PayPal," you can bet the real PayPal will come a'knocking. Or throw fistfuls of cash in your direction. According to a reliable source with knowledge of the transaction, e-invoicing company, TradeShift has just secured between €12 to €15 million euros from PayPal ($16 to $21 M dollars). The deal was done quietly, with PayPal dolling out the euros in the form of a loan for TradeShift. When asked to comment, the Denmark startup's CEO and co-founder Christian Lanng said he could not discuss the speculation at this time but implied that fundraising efforts have been robust this year. A PayPal spokesperson said the company does not comment on rumors or speculation.