Sequoia Capital, others open $15-mn tap for Drip Capital's trade financing

Drip Capital, a fintech start-up that provides unsecured trade finance to SME exporters, has raised $15 million in Series-A funding co-led by Sequoia Capital and includes existing investors Accel, Y Combinator and Wing VC. It had raised $5 million in seed funding from the last three in 2017. The company has also raised an undisclosed amount in debt from the US-based Silicon Valley Bank. After funding $100 million in trade flows of Indian SME exporters, Drip plans to consolidate in India as well as take its product to other emerging markets, starting Southeast Asia.

Although SMEs in emerging markets account