Drip Capital, a fintech that provides working capital to SMBs, picks up $113M
Drip Capital has raised $113 million in a combination of $23 million in equity and $90 million in debt to provide credit to more small businesses in India and the U.S. © 2024 TechCrunch. All rights reserved. For personal use only.
https://techcrunch.com/2024/09/05/drip-capital-a-fintech-that-provides-working-capital-to-smbs-picks-up-113m/
Drip Capital, a Palo Alto-based startup, has raised $113 million in funding to expand its working capital solutions for small and medium-sized businesses (SMBs) in India and beyond. The company provides short-term loans to SMBs, allowing them to pay suppliers and maintain operations while waiting for customers to pay their invoices. Drip Capital has already served over 9,000 businesses, with 60% from India, and aims for 40% year-on-year growth in the next two years.