Drip Capital

The company was founded in November 2014 by Wharton School alums Pushkar Mukewar[4] and Neil Kothari.[5] Using their prior experience in finance and technology, they set up the company to bridge the trade finance gap for SME exporters worldwide.[6][7]

In 2016, Drip Capital launched its Indian subsidiary, Drip Capital Services India LLP to begin operations in the country. Since the start of operations, Drip Capital has raised $45 million in venture funding from investors including Accel Partners, Wing VC and Sequoia India and $55 million in debt funding, making the total raise $100 million.[8][9][10][11][12]

As of 2020, it has funded more than $1 billion of trade.[13][14][15][16]

Drip Capital currently offers post-shipment[17] export finance to small and medium sized exporters in emerging markets. Exporters can avail collateral-free export finance based on the strength of their buyers and their track record. Drip Capital assesses the risk of the buyer by leveraging electronic data and automated risk assessment. The company offers credit lines ranging from $100,000 to $2.5 million, depending on the exporter's size and requirement.[18]

Of late, Drip Capital has been extensively engaging with various trade associations and export promotion councils like FIEO, EEPC, CHEMEXCIL, and PLEXCONCIL to educate exporters about its product offerings. [19][20][21][22]

In 2015, the company raised a seed round of $4.5 million from Accel Partners and Wing Ventures.[23] In June 2018, the company raised $15 million Series A round from Accel and Sequoia India.[24][25][26] Later in the year, it raised further debt financing from Silicon Valley Bank and others.[27] In July 2019, the company raised $25 million Series B round from Accel, Wing, Sequoia India, Y-Combinator, Trusted Insight and GC1 Ventures.[28]