The partnership with East West Bank represents a milestone for Drip. It will further accelerate the company’s ability to provide financing to global exporters and importers. This new asset-based credit facility provides Drip with incremental financing capacity to help power the next phase of the company's growth. Drip Capital offers trade financing solutions in the US and developing markets like India and Mexico by giving their clients access to working capital quickly. Drip works with over 1,500 sellers and buyers spread across 80+ countries. The fintech has financed over USD 1.2 billion of international trade since its inception in 2016.
In the US, Drip provides buyer financing solutions -- supply chain finance and inventory finance -- to SMB importers, who further cater to the multinationals across the country. The company acts as a strategic financial partner to these SMBs allowing them to effectively manage their cash flows/working capital to accelerate sustainable business growth.
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