Drip Capital Secures $113 Million in Mixed Funding to Boost Global Trade

US-based trade finance platform Drip Capital has secured $113 million, comprising $23 million in equity investment and $90 million in debt financing. This funding aims to boost market expansion and develop new products, with significant investments from Japanese institutional investors and financial institutions.

US-based trade finance platform Drip Capital, which operates with a majority of its workforce in India, successfully secured $113 million in new funding, announced on Thursday.

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

'We have raised $113 million, combining debt and equity investments,' said Drip Capital Co-Founder and CEO Pushkar Mukewar. 'This infusion will expedite our market expansion and support the development of new products catered to customer needs.'

(With inputs from agencies.)