Total amount raised
$528.1 Millions
Latest funding date
Location
Drip Capital has successfully raised $113 million through various funding rounds, positioning itself as a key player in the global trade financing sector.
The platform offers innovative trade financing solutions for SMEs and large enterprises, leveraging an automated risk assessment model to streamline access to finance. Keep reading to explore the intricacies of Drip Capital's fundraising journey and the investors backing this dynamic platform.
What Is Drip Capital?
Drip Capital, founded in 2015 by Neil Kothari and Pushkar Mukewar, is headquartered in Palo Alto, California. The company specializes in providing global trade financing solutions for SMEs and large enterprises.
With a team of financial consultants, engineers, and analysts, Drip Capital leverages an automated risk assessment model to streamline access to finance. The platform aims to eliminate the hassle of paperwork and bureaucracy, creating a seamless borrowing experience for its clients.
Currently, Drip Capital employs between 251-500 people, making it a significant player in the trade financing sector. The company is backed by leading Silicon Valley investors and continues to grow rapidly.
How Much Funding Has Drip Capital Raised?
- Series B
- Amount Raised: $25M
- Date: July 2019
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and expand market reach.
- Series C
- Amount Raised: $40M
- Date: October 2021
- Lead Investors: TI Platform Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product expansion and enhance technology.
- Debt Financing
- Amount Raised: $135M
- Date: October 2021
- Lead Investors: Barclays Investment Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up disbursals and provide more working capital to SMEs.
- Debt Financing
- Amount Raised: $40M
- Date: March 2021
- Lead Investors: East West Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance liquidity and support business growth.
- Debt Financing
- Amount Raised: $60M
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To increase short-term loan offerings.
- Debt Financing
- Amount Raised: $40M
- Date: October 2023
- Lead Investors: International Finance Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology for better risk analysis.
- Venture Round
- Amount Raised: $23M
- Date: September 2024
- Lead Investors: GMO Payment Gateway, Sumitomo Mitsui Banking Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product expansion and capacity building.
- Debt Financing
- Amount Raised: $90M
- Date: September 2024
- Lead Investors: East West Bank, International Finance Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up disbursals and provide more working capital to SMEs.
Total Amount Raised: $453M. Current Valuation: Not publicly disclosed.
Key Investors
- Sumitomo Mitsui Banking Corporation (SMBC)
- Details: SMBC is one of Japan's largest banks, offering a wide range of financial services including commercial banking, leasing, and investment banking. It is part of the Sumitomo Mitsui Financial Group.
- Investment Focus Areas: Banking, financial services, investment.
- Notable Investments: Various financial institutions and fintech companies.
- International Finance Corporation (IFC)
- Details: IFC is a member of the World Bank Group, focusing on private sector development in developing countries. It provides investment, advisory, and asset management services.
- Investment Focus Areas: Private sector development, financial inclusion, sustainable investments.
- Notable Investments: Various projects in developing countries, including infrastructure and healthcare.
- GMO Payment Gateway
- Details: GMO Payment Gateway is a leading Japanese company specializing in online payment processing and financial services. It offers comprehensive payment solutions including in-person payment, Buy Now Pay Later (BNPL), and Banking as a Service (BaaS).
- Investment Focus Areas: Online payment processing, financial services, fintech.
- Notable Investments: Various fintech startups and payment processing technologies.
- East West Bank
- Details: East West Bank is a U.S.-based bank that provides financial services primarily to the Chinese-American community. It offers a range of banking services including commercial and retail banking.
- Investment Focus Areas: Financial services, cross-border banking, community banking.
- Notable Investments: Various financial services and fintech companies.
- Accel
- Details: Accel is a global venture capital firm that invests in early-stage and growth-stage technology companies. It has a strong track record of backing successful startups.
- Investment Focus Areas: Technology, early-stage startups, growth-stage startups.
- Notable Investments: Facebook, Dropbox, Slack.
What's Next for Drip Capital?
Drip Capital stands at the cusp of significant growth opportunities, driven by its recent $113 million funding. The company aims to expand its trade finance solutions, enhance technology for better risk analysis, and deepen its presence in core markets like India and the US. This expansion is poised to tap into the $5 trillion global SME cross-border trade industry, offering substantial room for growth.
Future fundraising seems promising as Drip Capital continues to attract interest from venture capitalists and financial institutions. The company's technological advancements and market expansion plans make it an attractive candidate for further investments. However, challenges such as competition from other fintech companies, regulatory hurdles, and managing risks associated with lending to SMEs could pose obstacles. Navigating these challenges will be crucial for sustaining growth and achieving long-term success.
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