Drip Capital Lands $175M in Equity and Debt Funding

Drip Capital, a California- and India-based fintech company, focused on solving the working capital problem for SME exporters using technology, announced recently it has secured $175 million in equity and debt funding to power its next phase of growth.

Specifically, the new capital includes $40 million in a Series C funding round and $135 million in warehouse debt facilities. The Series C round was led by San Francisco-based venture capital firm TI Platform, with participation from new and existing investors, including Accel, Sequoia, Wing VC, Irongrey, and GC1 Holdings. The $135 million is composed of a $100 million warehouse credit facility with Barclays Investment Bank and a $35 million increase in the existing facility with East West Bank (EWB). Up to now, the fintech has raised approximately $525 million.

With the new capital, the company plans to scale its trade financing business over the next 18 months by investing heavily in technology, products and talent, and to roll out a trade facilitation platform to alleviate the pain points of small businesses while collaborating with participants across the value chain, including shipping lines, payment processors and insurance providers.