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COINTURK FINANCE > Business > Drip Capital Secures $113 Million Funding
Business

Drip Capital Secures $113 Million Funding

Overview

  • Drip Capital raised $113 million to enhance its trade finance platform.

  • The company quadrupled revenue and doubled its customer base recently.

  • Drip Capital uses AI to assess credit risks and streamline operations.

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COINTURK FINANCE 1 year ago
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Drip Capital, a prominent digital trade finance company, has raised $113 million to further develop new products and boost growth on its digital platform. The company has seen significant progress, having quadrupled its revenue and doubled its customer base in the past two years, despite the global trade sector facing high interest rates. This new funding aims to enhance Drip Capital’s technological capabilities and expand its range of services for small- to medium-sized businesses (SMBs).

Contents
Expanding Services and TechnologyStrategic Partnerships and Future Plans

In earlier reports, Drip Capital had focused on improving its digital infrastructure and leveraging AI to assess credit risks. The company’s commitment to technology and data-driven solutions has been a consistent theme. Recent comparisons emphasize their sustained growth trajectory and continuous efforts to enhance customer experience through advanced analytics. Drip Capital’s ability to integrate foreign exchange and risk analytics with its core trade financing offerings showcases its adaptability in a rapidly evolving market environment.

Expanding Services and Technology

The recent funding round saw participation from new and existing investors, which positions Drip Capital for its next growth phase. CEO Pushkar Mukewar highlighted the company’s resilience and market preference, stating,

“Despite these challenges, Drip has emerged as the preferred trade finance platform for SMBs in the U.S. and India. We’ve achieved cash profitability and expanded our business during this period.”

Drip Capital’s extensive reach includes collaborations with over 9,000 sellers and buyers across more than 100 countries, facilitating cash flow and working capital management for SMBs. Over the past eight years, the company has financed over $6 billion in trade transactions.

Strategic Partnerships and Future Plans

Drip Capital’s strategic investors include GMO Payment Gateway and Sumitomo Mitsui Banking Corp. (SMBC). GMO Payment Gateway’s Executive Vice President Ryu Muramatsu noted,

“Drip’s innovative and comprehensive solutions in digital trade finance are transforming how SMBs engage in trade.”

SMBC’s Keiji Matsunaga expressed excitement about supporting market growth through this collaboration.

The company’s focus remains on using AI to streamline operations and provide enhanced customer experiences. This technological investment is crucial for assessing credit risks and calibrating the pricing involved in cross-border transactions. Mukewar emphasizes the importance of leveraging electronic trade data to assess the risk of each transaction. Drip Capital’s ability to innovate has positioned it as a leader in the trade finance sector.

Drip Capital’s advancement in digital trade finance, particularly through its use of AI and integration of additional services, has significantly impacted the way SMBs manage trade and finance operations. This growth is indicative of the company’s strategic vision and adaptability in the face of global economic challenges. As Drip Capital continues to expand its product offerings and technological base, it cements its role as a crucial player in the digital trade finance ecosystem, providing valuable resources and support to SMBs globally.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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