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Drip’s Trade Finance offering is helping exporters grow their business 30% m-o-m. With our invoice factoring solution, SMEs receive 80% of their invoice value upfront at the click of a button.
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Wholesale Rice Supplier Unlocks New Export Markets with Drip Capital's Invoice Discounting
iTreat Grocers LLP
Head Office
Navi Mumbai, Maharashtra
Products Exported
Generic & Specialty Rice
Lifetime Shipments
1,972 shipments (Source: Panjiva)
Existing Facility
traditional financing arrangements
Major Markets
United States, Middle East, Africa, Australia, New Zealand
Payment Terms
20-35 days
Website
Raghav Gupta,
Director, Itreat Grocers LLP
Drip Capital handles 80% of my post-shipment financing requirements. Their processes are efficient, fast,
and fully digital, saving time and effort. The team's unwavering customer service support has played a pivotal role in driving business growth.
About iTreat Grocers LLP
iTreat Grocers LLP provides long shelf-life packed Food Products to Mainstream / Ethnic Grocers and HoReCa / Food Service distributors mainly in US, UK, EU, Far East, Mid East & Oceana. Rice from Indian Valley contribute 70% of its sales.
Incorporated in 2017 by group of like minded entrepreneurs who have had over a decade of experience in exports, sales and distribution of food products worldwide.
Challenge
Itreat grocers was faced with the classic challenge of funds being stuck in the supply chain, which resulted in;
Delays in fulfilling new orders since funds were stuck in the supply chain
This also resulted in an inability to expand beyond the existing target geographies
Needless and repetitive paperwork requirements from traditional financiers
Banking Credit limits capped by financiers resulting in an inability to secure additional leverage and scale business operations
Solution
Quick one-time onboarding and one-time buyer verification on Drip Capital's Portal
Paperless and one-time Invoice Submission to Drip Capital for availing factoring solutions
Itreat Grocers were able to secure limits over and above bank allowances
The Drip Impact
Itreat Grocers experienced a remarkable 107% increase in the monthly average volume of financed shipments
Leveraging this additional working capital, Itreat Grocers diversified their product line, venturing into the export of fast-moving consumer goods (FMCG) used in everyday kitchens.
This strategic move proved fruitful, enhancing their market presence from six countries to the current 25.
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