Unleashing the Power of Working Capital: Drip Capital's Game-Changing Solution for SMBs
For more than 20 years, Jay Chandarana of Dhaval Agri, the leading sesame seed exporter in the market, struggled with traditional bank financing for his family business. But when expansion plans hit a roadblock due to collateral-based banking in India, Chandarana turned to Drip Capital in 2019 for a revolutionary working capital solution.
Drip Capital, a Palo Alto-based startup, has transformed the landscape for small and medium businesses (SMBs) like Dhaval Agri by providing flexible working capital loans tailored to their needs. With a recent $113 million funding boost, including equity from Japanese investors and debt financing from World Bank's IFC, Drip is poised for rapid growth.
Currently serving thousands of businesses in India, the U.S., and Mexico, Drip Capital's AI-powered platform automates processes and enables quick access to working capital, bridging the gap between invoice payments and supplier expenses. By advancing up to $2.5 million and offering account payable financing, Drip empowers SMBs to thrive and expand their operations.
In addition to its success in international trade, Drip Capital is venturing into domestic markets, aiming to provide a comprehensive financial solution for businesses across borders. With innovative products like foreign exchange services and a sourcing platform, Drip is revolutionizing the way SMBs manage their finances and grow their businesses.
In a recent interview, Pushkar Mukewar, co-founder and CEO of Drip Capital, emphasized the importance of holistic financial solutions to meet the diverse needs of businesses. With profitability achieved and a strategic approach to growth, Drip Capital's latest funding round highlights its commitment to empowering SMBs worldwide.
In conclusion, Drip Capital's disruptive approach to working capital financing offers a lifeline for SMBs facing capital challenges, enabling them to thrive, expand, and achieve long-term success in the competitive global market. By leveraging technology and innovation, Drip Capital is reshaping the financial landscape for businesses around the world.