Drip Capital secures $113 million in new funding to accelerate growth

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Drip Capital secures $113 million in new funding to accelerate growth - Economic Times

Quick Summary:

The company has expanded its services for SMBs by integrating forex and risk analytics solutions with its core trade financing products.

Pushkar Mukewar, Co-founder & CEO, Drip Capital says that the new funds raised will be invested in developing new financial products that cater to the evolving needs of customers.“Additionally, we will be strengthening our trade facilitation capabilities.

This includes $23 million in equity from Japanese institutional investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC) and $90 million in debt financing led by the International Finance Corporation (IFC) and East West Bank.