Drip has seen remarkable growth, quadrupling its revenue and doubling its customer base in the past two years. The company has expanded its services for SMBs by integrating forex and risk analytics solutions with its core trade financing products. The new funding will expedite market expansion and support the development of new products tailored to customer needs.

Drip has been a pioneer in the fintech domain, utilizing advanced AI technologies to enable efficient credit risk assessment, streamline operations, and enhance customer experiences. By continuing to invest in AI, Drip Capital aims to be at the forefront of implementing AI for trade finance.

“In 2022 and 2023, the global trade sector faced significant challenges, including rising interest rates that squeezed margins and restricted capital access for SMBs. Despite these challenges, Drip has emerged as the preferred trade finance platform for SMBs in the US and India,” stated Pushkar Mukewar, Co-founder and CEO of Drip Capital. “We’ve achieved cash profitability and expanded our business during this period. We are excited to welcome our new investors, and alongside our existing investors and debt partners, are ready to drive our next phase of growth.”

On the debt capital raise, Drip Capital’s Chief Business Officer, Karl Boog, added: “Having financed over $6 billion in trade in the past eight years, we have successfully scaled our capital providers. We are thrilled to welcome additional capital from East West Bank and the IFC, the world’s largest development finance institution.”

Karl Boog continued: “For our North American business, we have financed nearly $1 billion for US and Canadian SMBs over the past few years. Our unique Payable Finance offering allows our customers to pay their suppliers’ invoices and extend payment terms up to 120 days.”

Drip’s new investors and lenders have praised the company’s impact and potential.

“We are proud to have supported Drip from its inception, through both equity investment and debt financing. We greatly admire the remarkable growth they have achieved so far. It is a great honor for us to participate with an additional equity investment and advance towards a strategic partnership. Drip’s innovative and comprehensive solutions in digital trade finance are transforming how SMBs engage in trade. We believe Drip’s technology and proprietary underwriting are uniquely positioned to address the challenges in this space. We are excited to continue supporting their journey as they drive forward with ongoing growth and expansion,” said Ryu Muramatsu, Executive Vice President, GMO Payment Gateway.

“We are excited to contribute to the growth of society and market, by encouraging Japan–India corridor activities via this collaboration. We look forward to combining the expertise of SMBC Group with Drip Capital’s technologies, to optimize global trade and enable opportunities for small and medium-sized businesses,” commented Keiji Matsunaga, General Manager of Digital Strategy Department, Sumitomo Mitsui Banking Corporation (SMBC).

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The recognition underscores Adversa AI’s flagship product, Continuous Red Teaming for Generative AI (GenAI), which is revolutionizing the financial sector’s approach to security and resilience. As financial institutions worldwide rush to implement GenAI for serving customers and grapple with increasingly sophisticated cyber threats specific to AI Applications, from prompt Injections and Jailbreaks to Data Leakages, Adversa AI’s Continuous Red Teaming stands out as an essential tool, ensuring Security and Safety of AI-driven applications in financial systems.

In an era where GenAI is transforming financial services, ensuring the security and reliability of AI systems is paramount. Adversa AI’s Continuous Red Teaming for GenAI addresses this critical need by providing continuous, rigorous testing and fortification of AI models against potential vulnerabilities and adversarial attacks. This proactive approach not only enhances the security of financial institutions but also builds trust and confidence among stakeholders and customers.

“Being named in the AI Fintech Global list is a testament to our commitment to innovation and excellence in the financial technology sector, the most growing customer segment and the most affected by Cyberattacks. This accolade recognizes our contributions to developing advanced and pioneering AI technologies that are crucial for the financial services industry in 2024 and beyond.” – added Alex Polyakov, Adversa AI CEO.

Continuous Red teaming involves the ongoing simulation of sophisticated cyber-attacks on AI systems, identifying weaknesses before they can be exploited by malicious actors. For financial institutions, this means staying ahead of threats, safeguarding sensitive data, and maintaining operational integrity. Adversa AI’s solution is designed to adapt to evolving threats, ensuring that financial companies can operate with the highest levels of security and reliability.

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