Drip Capital

Drip Capital
Type of site
Private
Founded2016
HeadquartersPalo Alto, California
Founder(s)Pushkar Mukewar
Neil Kothari
Key peoplePushkar Mukewar (CEO)
IndustryFintech, International Trade
Employees300+

Drip Capital (DRIP/c) is a digital trade finance and B2B commerce company based in Palo Alto, California.[1] The company offers working capital to small and medium sized companies engaged in cross-border trade in India, Mexico and the United States using technology and data analytics.[2][3] It also operates a B2B commerce platform that connects global buyers and suppliers. It's investors include Accel, Sequoia, Wing VC, Y Combinator, and Sumitomo Mitsui Banking Corporation, alongside debt partners such as Barclays, IFC (World Bank Group), and TD Bank.

History

The company was founded in November 2016 by Wharton School alums Pushkar Mukewar[4] and Neil Kothari.[5] Using their prior experience in finance and technology, they set up the company to bridge the trade finance gap for SME export-import worldwide.[6][7][8]

Drip Capital later launched its Indian subsidiary, Drip Capital Services India LLP to begin operations in the country.[9] In 2018, Drip introduced its supplier financing solutions and domestic factoring services for small businesses in Mexico.[10]

Products and services

Drip Capital has two core offerings: trade finance and B2B commerce.

Under trade finance, Drip Capital offers digital, collateral-free finance to small and medium-sized businesses participating in international trade.[11] Using electronic data and automated risk assessment[12], the company evaluates counterparties and transactions to extend credit limits of up to US$3 million, depending on the size of the business and its requirement.[13]

In the United States, Drip Capital operates supply chain financing programs for buyers, enabling domestic and international suppliers to receive accelerated payments. In India, the company provides receivables financing for exporters as well as supply chain financing solutions for domestic buyers and their supplier networks.[14]

Its B2B commerce offering is a B2B commerce platform that connects global buyers and suppliers to facilitate cross-border sourcing. The platform enables businesses to identify trade partners, manage transactions, and participate in global supply chains.[15]

Drip Capital has been extensively engaging with various trade associations and export promotion councils like FIEO, EEPC, CHEMEXCIL, and PLEXCONCIL to educate exporters about its product offerings.[16][17][18][19] In November 2021, Drip Capital announced two new partnerships, a collaboration with CARGOES Finance by DP World and another with TradeLens, a blockchain enabled digital platform,[20][21] to enable access to working capital for emerging market small and medium-sized businesses.[22][23]

Growth and funding

In July 2019, Drip Capital raised a US$25 million Series B round led by Accel, with participation from Sequoia India, Wing VC, and Y Combinator.[24] In November 2021, the company raised US$175 million in a Series C round, alongside an expanded warehouse credit facility from Barclays and East West Bank.[25]

In September 2024, Drip Capital secured US$113 million, comprising US$23 million in equity from GMO Payment Gateway and Sumitomo Mitsui Banking Corporation and US$90 million in debt financing led by the International Finance Corporation and East West Bank.[26] The company has raised approximately US$640 million in equity and debt funding since it started operations. Its equity investors include Accel, Wing, Transpose Platform, Peak XV Partners, Sumitomo Mitsui Banking Corporation, GMO Payment Gateway, and Y Combinator, with debt partners including the IFC, Barclays, and East West Bank.[27]

In November 2025, Drip Capital received a US$50 million committed credit facility from TD Bank, with an option to expand by an additional US$25 million, to support its buyer finance operations in the United States and Canada.[28]

Drip Capital co-founder and CEO Pushkar Mukewar (second from right) and Maharashtra Chief Minister Devendra Fadnavis at the signing of the company's MoU with the Government of Maharashtra, Davos, January 2026

In January 2026, the company signed a memorandum of understanding with the Government of Maharashtra at the World Economic Forum Annual Meeting in Davos, committing to disburse ₹10,000 crore (approximately US$1.2 billion) in collateral-free trade finance to Maharashtra-based MSMEs between 2026 and 2031.[29] In January 2026, the company signed a memorandum of understanding with the Government of Maharashtra at the World Economic Forum Annual Meeting in Davos, committing to disburse ₹10,000 crore (approximately US$1.2 billion) in collateral-free trade finance to Maharashtra-based MSMEs between 2026 and 2031.[30][31]

As of April 2026, Drip Capital has facilitated more than US$9 billion of trade transactions since inception.[32]

Recognition

In September 2020, Drip Capital was named to the CB Insights Fintech 250 list of promising financial technology companies.[33] The company appeared on Y Combinator's Top Companies list, ranked by valuation, in 2022 and 2023.[34][35] In 2022, it was selected to the Red Herring Top 100 Global list[36] and received Entrepreneur India's Fintech Startup of the Year award in the digital lending category.[37] In 2023, Drip Capital received the Gold award for SME Financier of the Year in North America at the Global SME Finance Awards, presented by the SME Finance Forum, which is managed by the International Finance Corporation.[38] In 2025, the company was listed among India's future unicorns in the ASK Private Wealth Hurun India Unicorn and Future Unicorn Report[39] and was ranked in the top 10 of the D Globalist DGEMS Select 200 cohort, published with Forbes India.[40] Drip Capital was invited to join the World Economic Forum's Unicorn Community, the Forum's group of high-growth technology companies.[41][42] The company has been certified by the Great Place to Work Institute in India four times since 2021, and was named to the institute's India's Best Companies To Work For list in 2026.

Locations

Drip's corporate headquarters are Palo Alto, California. It also has offices in Mumbai, India and Mexico City, Mexico.[43]

References

  1. ↑ "Drip Capital offers easy finance to MSME exporters". @businessline. Retrieved 2021-03-17.
  2. ↑ "Drip Capital Surpasses $1 Billion in Cross-Border Trade Receivables Financing Transactions". finance.yahoo.com. Retrieved 2021-03-17.
  3. ↑ "Drip Capital raises $15 mn from Accel, Sequoia and others". www.fortuneindia.com. Retrieved 2019-04-06.
  4. ↑ "Invoice factoring has great potential to help SME exporters: Drip Capital co-founder". www.smetimes.in. Retrieved 2019-04-06.
  5. ↑ "Accel, Sequoia and others invest in trade finance firm Drip Capital". VCCircle. 2018-06-21. Retrieved 2019-04-06.
  6. ↑ "Drip Capital found out how to fund small manufacturers without big banks". Protocol — The people, power and politics of tech. 2021-01-18. Retrieved 2021-03-17.
  7. ↑ Network, Knn India-Knowledge & News. "Drip Capital helps Kochi exporters and SMEs capitalize on trade finance solutions". knnindia.co.in. Retrieved 2019-04-06.
  8. ↑ Chakraborty, Subhayan (29 March 2019). "Apparel exporters fear tough year ahead as global orders fall". Business Standard.
  9. ↑ "Drip Capital raises $25M to help exporters access working capital". TechCrunch. Retrieved 2021-03-17.
  10. ↑ "Drip Capital plans to expand into new markets across the world".
  11. ↑ "Drip Capital offers easy finance to MSME exporters". @businessline. Retrieved 2021-03-17.
  12. ↑ Gooptu, Biswarup. "Drip Capital raises $15M from Sequoia Capital, Accel Partners & others". The Economic Times. Retrieved 2021-03-17.
  13. ↑ "You are being redirected..." www.ciol.com. Retrieved 2021-03-17.
  14. ↑ Staff, Entrepreneur (30 October 2025). "Drip Capital Secures $50 Mn from TD Bank to Scale Global SMB Trade Finance".
  15. ↑ "Peak XV-backed Drip Capital has big plans for new B2B marketplace". VCCircle. Retrieved 2025-12-30.
  16. ↑ "Drip Capital Brings Invoice Factoring To Nagpur Exporters". Retrieved 2021-01-20.
  17. ↑ "Drip Capital Help Faridabad Exporters Capitalize On Trade Finance Solutions". SMEStreet: Knowledge & Networking for Growth. 2019-08-30. Retrieved 2021-01-20.
  18. ↑ "Big boost for SMEs! FIEO, Drip Capital to power Indian small business exports". Zee Business. 2019-07-12. Retrieved 2021-01-20.
  19. ↑ "Drip Capital partners with BAA to bring alternative financing solutions for exporters". ANI News. Retrieved 2021-01-20.
  20. ↑ "Drip Capital joins hands with TradeLens to provide blockchain-enabled financing solutions for exporters". The Economic Times. Retrieved 2022-03-11.
  21. ↑ "Drip Capital connects with TradeLens to provide blockchain-enabled financing solutions for importers and exporters". ThePrint. 2021-11-11. Retrieved 2022-03-11.
  22. ↑ "Drip Capital partners with CARGOES Finance to help SMEs". The Economic Times. Retrieved 2022-03-11.
  23. ↑ "Drip Capital partners with CARGOES Finance by DP World". SeaNews. 2022-02-23. Retrieved 2022-03-11.
  24. ↑ "Drip Capital raises $25M to help exporters access working capital". TechCrunch. July 24, 2019.
  25. ↑ "Drip Capital Raises $175M to Build a Tech-Enabled Global Trade Facilitation Platform". PR Newswire. October 2021.
  26. ↑ "Drip Capital, a fintech that provides working capital to SMBs, picks up $113M". TechCrunch. September 5, 2024.
  27. ↑ "Finance platform Drip Capital raises $113 mn through debt, equity issue". Business Standard. September 5, 2024.
  28. ↑ "Drip Capital Secures US$50 Million Credit Facility from TD Bank to Accelerate North American Expansion". Yahoo Finance. November 2025.
  29. ↑ ...existing refs stay...
  30. ↑ "Drip Capital, Maharashtra Govt Partner to Boost MSME Export Finance". SMEVenture. January 2026.
  31. ↑ "Drip Capital to Provide Rs 100 Billion Export Finance to MSMEs". Construction World. January 2026.
  32. ↑ "Drip Capital Surpasses $9 Billion in Trade Transactions as SMBs Navigate Shifting Global Supply Chains". Yahoo Finance. April 28, 2026.
  33. ↑ "The Fintech 250: The Top Fintech Companies of 2020". CB Insights. September 2020.
  34. ↑ "Drip Capital Named to Y Combinator's Top Companies List". Business Wire. March 3, 2022.
  35. ↑ "YC Top Companies". Y Combinator. March 2023 – via Internet Archive.
  36. ↑ "2022 Red Herring Top 100 Global: Winners". Red Herring.
  37. ↑ "Previous Winners". Entrepreneur India.
  38. ↑ "2023 Awards Winners". SME Finance Forum.
  39. ↑ "ASK Private Wealth Hurun India Unicorn and Future Unicorn Report 2025" (PDF). ASK Private Wealth / Hurun Research Institute. September 2025.
  40. ↑ "Forbes India Select 200 – DGEMS 2025". Forbes India / D Globalist.
  41. ↑ "A Year of Scaling Growth". Drip Capital. January 2026.
  42. ↑ "Drip Capital". World Economic Forum.
  43. ↑ PYMNTS (2020-05-17). "Drip To Help SMB Importers Unlock Working Capital". www.pymnts.com. Retrieved 2021-03-17.
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