Drip Capital raises $113 million in debt-equity mix from IFC, Japan’s GMO Payment Gateway, others

Trade finance startup Drip Capital said on Thursday that it has raised $113 million in its latest round of funding with a mix of debt and equity. $90 million was secured in debt financing led by the International Finance Corporation (IFC) and California-headquartered East West Bank while the remaining $23 million was in equity from Japanese institutional investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC).