Drip Capital Named to Y Combinator’s Top Companies List

PTI, Mar 3, 2022, 5:45 PM IST

Mumbai: Drip Capital, Inc., a leading cross-border digital trade finance platform, has been named to Y Combinator’s Top Companies list.

Listed and ranked by valuation, Drip Capital joins other notable Y Combinatorfintech alumni like Stripe, Coinbase, and Brex on the Top Companies list. This year’s list includes 267 public and private companies from 20 countries, most valued at more than USD 150 million, with more than 60 valued at more than USD 1 billion.

Published first in 2018, the Top Companies list selects from over 2,000 companies that have gone through the Y Combinator accelerator program since 2005. Y Combinator added 99 companies for this latest edition of the list, its first update since July 2021.

Pushkar Mukewar, Co-founder and CEO of Drip Capital, said, We are honored to be recognized as a top company by Y Combinator – a technology startup accelerator that helped us launch and has been with us every step of the way as we work to bridge the USD 3 trillion trade finance gap. We value their partnership and are excited to continue working alongside them as we bring new innovations to our platform and grow our global team in the coming year.

Drip Capital leverages data analytics and technology to cater to SMBs. Currently, it is working with over 3,500 sellers and buyers across 80+ countries.

In India, Drip Capital offers collateral-free post-shipment export financing solutions to SMEs. The company leverages machine learning and cloud technology to finance cross-border transactions, allowing SMEs to free up working capital and invest in growth. Since its inception, the fintech firm has financed over USD 2.2 billion worth of global trade transactions.

To date, Drip has raised nearly USD 520 million through venture capital and debt, including over USD 85 million in equity capital through investors such as Accel Partners, Sequoia Capital, Wing VC, TI platform, and Y Combinator. The company also has secured warehouse debt facilities from top banks like Barclays Investment Bank and East West Bank.

About Drip Capital

Drip Capital is a fintech company that is transforming global trade finance. Drip Capital offers digitized trade financing solutions in markets like the US, India, and Mexico by providing small and medium business (SME) clients access to working capital and currently works with over 3,500 sellers and buyers across 80+ countries. The company acts as a strategic financial partner to these SMEs, allowing them to effectively manage their cash flows/working capital to accelerate sustainable business growth.