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Drip Capital Secures $113 Million in New Funding for Global Expansion

Author

Slice of Finance Team
11 Sep

Key Highlights:

  • Drip Capital secures $113 million in funding: $23M in equity, $90M in debt.

  • Investors include GMO Payment Gateway, SMBC, IFC, and East West Bank.

  • Funding to support global expansion and new product development.

  • Revenue quadrupled and customer base doubled over the past two years.

  • Focused on AI-driven innovations in trade finance.

Source (PR Newswire)

Notable Quotes:

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"Despite these challenges, Drip has emerged as the preferred trade finance platform for SMBs in the US and India."

Pushkar Mukewar, Co-founder and CEO at Drip Capital
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"We are thrilled to welcome additional capital from East West Bank and the IFC, the world's largest development finance institution."

Karl Boog, Chief Business Officer at Drip Capital
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"Drip's innovative solutions in digital trade finance are transforming how SMBs engage in trade."

Ryu Muramatsu, Executive Vice President at GMO Payment Gateway

Our Take:

Drip Capital’s ability to raise $113 million in a challenging global economic environment reflects the company's strategic growth and innovative approach. By leveraging AI and offering integrated solutions, Drip is not only addressing SMBs' financing challenges but also reshaping the landscape of digital trade finance. The backing from major institutions like GMO Payment Gateway and IFC underscores Drip’s credibility and potential for further disruption in the fintech space. The new funding will undoubtedly accelerate Drip’s market expansion and enhance its product portfolio, making it a significant player in the global trade finance ecosystem.