Drip Capital, a Palo Alto, CA-based provider of a digital platform for trade finance, raised $113M in funding.
The round consisted of $23M in equity from Japanese investors, GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC), and $90M in debt financing, led by the International Finance Corporation (IFC) and East West Bank.
The company intends to use the funds for market expansion and to support the development of new products.
Led by CEO Pushkar Mukewar, Drip Capital is a digital trade fintech focused on the $5 trillion global SME cross-border trade industry. As a strategic financial partner, Drip Capital enables SMBs to effectively manage their cash flows and working capital, driving sustainable business growth. The company collaborates with over 9,000 sellers and buyers across 100+ countries, having financed more than $6 billion in trade transactions.
FinSMEs
05/09/2024