Drip Capital, which is based in Palo Alto and Mumbai, raised $25 million in Series B funding led by Accel with participation from existing investors Sequoia India, Wing VC, and Y Combinator. New investors in this round include GC1 Ventures and institutional investor platform Trusted Insight. The company has raised over $45 million of equity to date and $55 million of debt, taking the total funding to $100 million. The company, founded by Pushkar Mukewar and Neil Kothari, uses technology to accelerate global trade and empower small companies and entrepreneurs in emerging markets. At the click of a button, Drip’s solution provides small business exporters the working capital they need to grow their business. Mukewar said trade finance is an age-old paper-based industry dominated by banks that primarily focus on large, established corporate customers. Hence, small businesses, despite accounting for 50% of merchandise exports from India, remain largely neglected. Drip Capital’s mission is to level the playing field for these small business exporters, not just in India but across emerging markets around the world. The company intends to rebuild the core parts of international trade finance infrastructure from the ground up.
