Drip Capital, a leading Fintech provider of cross-border trade finance, and East-West Bank have announced a $40 million committed credit facility for the expansion of Drip's trade finance solutions to small and medium-sized businesses.

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Drip Capital offers trade financing solutions in the US, India and Mexico. It works with over 1500 sellers and buyers spread across 80 countries. The FinTech firm has financed over $1.2 billion of international trade since its inception in 2016.

"Drip is growing at a rapid pace and institutional partnerships are a cornerstone of our capital markets strategy. The partnership with East West Bank represents a significant milestone for our Company. It will further accelerate our ability to provide fast and seamless financing to global exporters and importers. We are excited to work with Mark Parsa and the EastWest team as we scale up our operations to service many more customers,” said Pushkar Mukewar, Co-Founder and CEO at Drip Capital.

“We are pleased to provide financial support to a global fintech company like Drip Capital to help them achieve their growth plan,” said Kristine H. Pfeilsticker, FVP-Relationship Manager of Structured Finance at East West Bank.

Drip has raised nearly $200 million through venture capital and debt since 2016, including over $45 million in equity capital through investors such as Accel Partners, Sequoia Capital, Wing VC, and Y Combinator.