Online payment processing company PayPal has reportedly invested €12m ($16m) to €15m in European start-up TradeShift, according to news provider TechCrunch. TradeShift provides electronic invoices and was funded by angel investors Mårten Mickos, the former chief executive of software company MySQL before its sale for $1bn to database group Sun (subsequently bought by Oracle), and Stefan Glaenzer, investor in Last.fm (acquired by CBS) and QXL Tradus (bought by Naspers) and co-founder of UK incubator White Bear Yard.

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