B2B Trade Financing: Drip Capital Raises $113 Mn In A Mix Of Debt & Equity
Funding Breakdown
Drip Capital has announced a successful funding round raising a total of $113 million in a mix of debt and equity financing. Japanese investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation contributed $23 million in equity, while International Financing Corporation and East West Bank provided $90 million in debt.
Growth and Market Impact
This influx of capital is set to accelerate the company's market expansion plans and enhance product offerings for clients. Over the past two years, Drip has observed its revenue quadruple, backed by a doubling of its customer base. The startup integrates forex and risk analytics into trade financing solutions, benefiting small and medium businesses.
- Collaborates with 9,000 sellers and buyers across 100+ countries
- Financed over 1.99 lakh invoices involving $6.5 billion
- Achieved significant cash profitability during challenging economic periods
Mukewar revealed that the global trade sector faced notable obstacles amid rising interest rates, leading to tight margins and restricted access to capital for SMBs. Yet, Drip Capital has positioned itself as a leading choice for trade finance solutions.
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