Company Overview
Drip Capital, is a financial technology business that was established in 2016 and is revolutionizing international trade finance. By giving small and medium-sized enterprises (SMBs) consumers exposure to working capital, Drip Capital provides digital trade financing services in countries including the US, Mexico and India. It presently collaborates with more than 3,500 buyers and sellers in 80 different nations. To help these SMBs administer their cash flows and working capital efficiently and build their businesses sustainably, the organization serves as a strategic financing partner.
The business uses cloud and advanced algorithms technology to fund international trade, enabling businesses to spare up capital and invest in expansion. The business has so far provided financing for international commercial deals totaling more than $2 billion.
By utilizing global trade statistics, Fintech has developed creative financial services that assist smaller firms in expanding and scaling their operations while closing the $3 tn finance gap, one bill at a go.
Key Executives
The following key members of the board are united in their efforts to realise the company mission:
Pushkar Mukewar – CEO & Founder
Drip’s CEO and Founder, Mr.Pushkar founded the company in order to facilitate trading for micro businesses around the world.
Karl Boog – Capital Markets & Growth – US
Karl is in charge of fundraising and overseeing the strategic alliances with investors and foreign banks for the company’s market strategy. Additionally, he oversees the US operations of Drip’s Treasury / Finance, Growth, and Business Development verticals.
Anupam Agrawal – Finance
Anupam oversees Drip’s financial operations and is in charge of investor and financial reporting. He comes with 15 years of financial and strategic experience.
Meenakshi Iyengar – Culture & People Operations
Meenakshi serves as a commercial and person-to-person mentor and advisor. She strives to make Drip an enjoyable and fantastic place to be. Meenakshi has developed and scaled businesses to provide commercial outcomes and is passionate about contributing to the start-up ecosystem.
Products & Services
Drip Capital provides a range of products and services, which includes:
Unsecured working capital: Working money that doesn’t require collateral is made available to SMBs by Drip Capital so they can invest it in their supply chains. Companies are paying their suppliers on time, expanding their production capabilities, and quickening the pace of product development.
Drip’s risk assessment platform: Drip Capital identifies funding sources using sophisticated mathematical tools and algorithms on large amounts of data. They conduct over 100+ tests to guarantee that only the best offers are authorized. The entire process only takes a few minutes.
Other sources of revenue for fund managers: Drip Capital raises funds in the United States by offering uncorrelated, flexible investment possibilities with high yields. They direct it towards developing nations where access to investment is the main economic inhibitor.
Solutions for factoring invoices: Drip Capital is dedicated to using analytics and technology to help SME exporters in developing markets and to solve their capital investment problem. To create a level playing area for small firms, they assist in rebuilding essential components of the structure for international trade and banking.
Company Reviews
- Drip Capital has once again received the ‘Outstanding Place to Work’ certification. Good leadership, a regular employee experience, and long-term financial success make this possible.
- In March, Drip Capital recorded originations of $150 million. Drip Capital Inc., a cross-border virtual financing platform, reported that its month – to – month originations surpassed $150m in March this year. Since the company’s inception in 2016, this was the highest monthly originationsl.
- In 2020, Drip Capital was recognized as a ‘CB Insights Top 250 Global Fintech Company’.
Related News
To overcome security challenges, Drip Capital improves its risk forecasting model.
Drip Capital, a California based B2B fintech company has more than 5000 sellers and buyers globally, uses a risk assessment approach that is essential to the application of securities free funding and draws on a range of data to evaluate the risk per deal. The organization is willing to collaborate with suppliers who can satisfy the need for data made available through APIs because it enhances its risk assessment approach with a durable data analysis plan.
Drip Capital teams up with Onfido, a producer of digital IDs
To speed up the enrolling procedure for new clients, Drip Capital formed a collaboration with Onfido, a leading provider of international digital authentication identity verification. Drip Capital will use the agreement to make use of Onfido’s Authentic Identity Network to validate identity papers on a real – time basis via a secure, entirely digital procedure. This would expedite the enrollment process for new candidates and do away with the requirement for tiresome real filing and processing. Additionally, the system will include regular checks like money laundering, which will help expose false documents even faster.
To create a tech-enabled cloud provider for international trade facilitation, Drip Capital raises $175 million by October 28, 2021.
Drip Capital has said that it had secured $175 million in new funding to fuel its upcoming phase of expansion. A $40 million Series C investment and $135 million in warehouse financing facilities make up the funds raised. Additionally, prior to this fundraising round, Drip Capital had secured about $525 million in stock and loan financing.
The business also has plans to introduce a brand-new trade liberalization platform that will work with participants from all facets of the value chain, such as payment processors, shipping lines, and insurance companies, to reduce the problems faced by small enterprises.
Accel, Sequoia, and Other Investors Contribute To a $25 m Series B Investment For Drip Capital
According to its Co-CEO, Drip Capital will use the funding for technology, global expansion, and the growth of its marketing and sales teams. Fintech company Drip Capital just secured $25 million in new capital from Accel, Sequoia, and other investors. The company claimed that two fresh investors have joined current backers Wing VC and Y Combinator in the Series B round. A sum of $100 m had been raised by Drip Capital, including $55 m in debt and $45 m in equity.
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