By Inc42 Media
Japanese investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC) infused $23 Mn in equity financing
Drip Capital raised $90 Mn debt from International Financing Corporation and East West Bank
The startup said that the capital will support its market expansion plans and help it develop new products tailored to customer needs
Trade financing startup Drip Capital
has raised a funding of $113 Mn in a mix of debt and equity.
While Japanese investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC) infused $23 Mn in equity financing, the startup raised $90 Mn debt from International Financing Corporation (IFC) and East West Bank.
In a statement, the startup said that the capital will support its market expansion plans and help it develop new products tailored to customer needs.
Founded in 2015 by Pushkar Mukewar and Neil Kothari, Drip Capital offers digitised trade financing solutions to small and medium business (SMB) clients in India, the US, and Mexico.
It last raised $175 Mn from investors like TI Platform, Accel, Peak XV (then Sequoia India), Wing VC, Irongrey, and GC1 Holdings in 2021.
(The story will be updated soon.)