For over two decades, Jay Chandarana relied on commercial banks for his family business's working capital, but faced limitations due to India's collateral-based banking system.
After switching to Drip Capital in 2019, Chandarana saw Dhaval Agri's volume increase by 50%, highlighting the impact of alternative financing.
Drip Capital has raised $113 million to expand working capital loans for SMBs while leveraging AI for process automation and risk analysis.
With a total of about $640 million raised, Drip Capital aims to scale its services to support more entrepreneurs and businesses.
#alternative-financing #small-and-medium-sized-enterprises #technology-in-finance #business-expansion #indian-banking-system
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