India, Oct. 30 -- Trade financing startup Drip Capital has raised $50 Mn (INR 441.5 Cr) in a debt funding round led by Canada-based Toronto-Dominion Bank.

The deal will also have an additional $25 Mn accordion feature. This means that Drip Capital will be able to extend its credit line by an additional $25 Mn without negotiating a new agreement.

In a statement, Drip Capital said that the debt facility will support the startup's buyer finance programme across North America and reinforce its position in the cross-border SMB financing segment globally.

Speaking with Inc42, Drip Capital cofounder and CEO Pushkar Mukewar said that the fresh proceeds will be utilised to scale up the startup's trade finance platform and its volume. "I think I...