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TradeCard Stage: Venture Date of Investment: 1999 Web Site : http://www.tradecard.com
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TradeCard provides on-demand financial supply chain products to top
retailers, brands and manufacturers. By connecting these buyers online
with their domestic and international suppliers, TradeCard automates
the processes from procurement through payment.
Corporate Financing Managers can gain access to TradeCard's suite of
integrated financial products that reduce working capital and capture
payment discounts, while TradeCard's compliance scorecards and
chargeback management tools help procurement chiefs to optimize
supplier performance. Suppliers also benefit from automation, as they
gain more predictable payments and new sources of financing.
Consistently acknowledged as best in class, TradeCard is powered by a
patented data compliance engine that reconciles a transaction's
financial, logistics, fulfillment and customs data. The engine triggers
payments and other actions once agreed upon conditions have been met.
Today, TradeCard has customers in more than 40 countries. It maintains
partnerships with approximately financial institutions, logistics and
shipping companies, and a large percentage of the world's inspections
companies. Warburg Pincus restarted TradeCard in 1999, bringing in a
new management team to build on the intellectual property the company
had developed over the prior two years. The team is led by Kurt Cavano,
former head of American Management System's financial services group.
Warburg Pincus also recruited three experienced independent directors
to the TradeCard board: Anthony P. Terracciano, who previously served
as the chairman of the Dime Savings Bank and president and C.O.O. of
Mellon Bank Corporation, both former Warburg Pincus portfolio
companies; Michael O. Sanderson, former C.E.O. of NASDAQ Europe and
president of Instinet Corporation; and David Smilow, co-chairman and
C.E.O. of Inviva, Inc. and American Life Insurance Company of New York.
