Drip Capital closed $23M funding round

Drip Capital secured $113 million in a new funding round, which included $23 million in equity and $90 million in debt financing. The equity investment came from Japanese institutional investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC). The debt financing was led by the International Finance Corporation (IFC) and East West Bank.

Drip Capital is a digital trade finance platform that provides working capital to small and medium-sized businesses (SMBs) involved in cross-border trade. The company utilizes technology, including AI and data analytics, for credit risk assessment and to streamline operations, offering collateral-free financing solutions. The new funding is intended to accelerate market expansion, support the development of new financial products tailored to customer needs, and scale its trade operations, with a focus on markets like the U.S. and India.