Private Equity Fund Investments
Fintech platform Drip Capital raises $40-M
Mumbai-based Drip Capital, a digital cross-border trade finance platform for small and medium businesses (SMBs), has raised USD 40 million Series C equity investment and USD 135 million in debt facilities. To date, Drip Capital has raised about USD 525 million in equity and debt funding. San Francisco-based TI Platform led the Series C investment round with participation from new and existing investors, including Accel Partners, Sequoia Capital, Wing VC, Irongrey, and GC1 Holdings. The funding includes a USD 100 million warehouse credit facility with Barclays Investment Bank and a USD 35 million increase in the existing facility with East West Bank (EWB). Founded in 2016, Drip Capital serves SMBs across India, Mexico, and the US, providing access to collateral-free credit. The firm claims to work with over 3,500 sellers and buyers across 80 countries. To date, the company has financed more than USD 2 billion worth of global trade transactions.
From the Venture Intelligence PE-VC Deal Database: Between Jun-18 and Jul-19, Drop Capital raised $40-M from Abstract Ventures, Y Combinator Continuity Fund, Accel USA, Accel India, Sequoia Capital India, and others.
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