Here’s why California-based Drip Capital is betting big on Indian SMEs
5 March 2019 2:23 AM IST
Neil Kothari and Pushkar Mukewar are going after the 1 million Indian SME exporters with trade finance company Drip Capital, offering collateral-free, post-shipment finance ?with instant approvals.
- In 2015, the duo set up Drip Capital, a trade finance company that provides collateral-free, post-shipment finance to Indian exporters “with instant approvals and minimal documentation”.Trade finance is an age-old, paper-based industry dominated by banks that focus on large, established corporate customers.
- That is where Drip Capital comes in: it is using technology to re-build core parts of the international trade finance infrastructure, and make underwriting and financing of international B2B transactions seamless for small businesses.
- Drip Capital steps in to give these exporters collateral-free, working capital at competitive rates of interest as rapidly as possible.
- The product helps working capital-strapped MSME exporters access alternative financing to grow their businesses faster than they could otherwise.
- Drip Capital offered to provide collateral-free working capital to Dhara Foods by financing his export invoice.
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