<p><strong><span class="legendSpanClass"><span class="xn-location">PALO ALTO</span></span></strong> &#8212; Drip Capital, a digital platform for trade finance, has secured <span class="xn-money">$113 million</span> in new funding. This includes <span class="xn-money">$23 million</span> in equity from Japanese institutional investors, GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC), and <span class="xn-money">$90 million</span> in debt financing, led by the International Finance Corporation (IFC) and <span class="xn-location">East West Bank</span>.</p>
<p>The company collaborates with over 9,000 sellers and buyers across 100+ countries, having financed more than <span class="xn-money">$6 billion</span> in trade transactions. As a strategic financial partner, Drip Capital enables SMBs to effectively manage their cash flows and working capital, driving sustainable business growth.</p>
<p>Drip says it has seen remarkable growth, quadrupling its revenue and doubling its customer base in the past two years. The company has expanded its services for SMBs by integrating forex and risk analytics solutions with its core trade financing products. The new funding will expedite market expansion and support the development of new products tailored to customer needs.</p>
<p>Drip has been a pioneer in the fintech domain, utilizing advanced AI technologies to enable efficient credit risk assessment, streamline operations, and enhance customer experiences. By continuing to invest in AI, Drip Capital aims to be at the forefront of implementing AI for trade finance.</p>
<p>&#8220;In 2022 and 2023, the global trade sector faced significant challenges, including rising interest rates that squeezed margins and restricted capital access for SMBs. Despite these challenges, Drip has emerged as the preferred trade finance platform for SMBs in the US and <span class="xn-location">India</span>,&#8221; stated Pushkar Mukewar, Co-founder and CEO of Drip Capital. &#8220;We&#8217;ve achieved cash profitability and expanded our business during this period. We are excited to welcome our new investors, and alongside our existing investors and debt partners, are ready to drive our next phase of growth.&#8221;</p>
<p>On the debt capital raise, Drip Capital&#8217;s Chief Business Officer, <span class="xn-person">Karl Boog</span>, added: &#8220;Having financed over <span class="xn-money">$6 billion</span> in trade in the past eight years, we have successfully scaled our capital providers. We are thrilled to welcome additional capital from <span class="xn-location">East West Bank</span> and the IFC, the world&#8217;s largest development finance institution.&#8221;</p>
<p><span class="xn-person">Karl Boog</span> continued: &#8220;For our North American business, we have financed nearly <span class="xn-money">$1 billion</span> for US and Canadian SMBs over the past few years. Our unique Payable Finance offering allows our customers to pay their suppliers&#8217; invoices and extend payment terms up to 120 days.&#8221;</p>
<p>Drip&#8217;s new investors and lenders have praised the company&#8217;s impact and potential.</p>
<p>&#8220;We are proud to have supported Drip from its inception, through both equity investment and debt financing. We greatly admire the remarkable growth they have achieved so far. It is a great honor for us to participate with an additional equity investment and advance towards a strategic partnership. Drip&#8217;s innovative and comprehensive solutions in digital trade finance are transforming how SMBs engage in trade. We believe Drip&#8217;s technology and proprietary underwriting are uniquely positioned to address the challenges in this space. We are excited to continue supporting their journey as they drive forward with ongoing growth and expansion,&#8221; said <span class="xn-person">Ryu Muramatsu</span>, Executive Vice President, GMO Payment Gateway.</p>
<p>&#8220;We are excited to contribute to the growth of society and market, by encouraging Japan–India corridor activities via this collaboration. We look forward to combining the expertise of SMBC Group with Drip Capital&#8217;s technologies, to optimize global trade and enable opportunities for small and medium-sized businesses,&#8221; commented <span class="xn-person">Keiji Matsunaga</span>, General Manager of Digital Strategy Department, Sumitomo Mitsui Banking Corporation (SMBC).</p>

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