This post was originally published on The Economic Times
Drip Capital, a digital trade finance and B2B e-commerce company, has secured a US$50 million committed credit facility with an additional $25 million accordion feature from Toronto-Dominion Bank (TD Bank), one of the top ten banks in North America.
The partnership marks Drip Capital’s first engagement with TD Bank. The facility will support the company’s Buyer Finance programme across North America while reinforcing its leadership in cross-border SMB financing globally. With this round, Drip Capital’s total debt funding raised to date exceeds US$500 million, supported by global financial partners including Barclays, the World Bank’s International Finance Corporation (IFC), and East West Bank.
India’s small and mid-sized businesses (SMBs) power nearly 40% of the nation’s exports, yet many still face cash flow gaps and limited access to formal credit. Drip Capital bridges this gap by giving exporters instant access to working capital through its non-recourse receivables factoring solution, where they’re paid upfront for their overseas shipments by Drip Capital, which, instead of the exporter, takes on the
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