Drip Capital vs KredX — Rates, Buyer Eligibility & Which One Fits Your Invoice (2026)
Drip Capital and KredX both finance unpaid invoices, but they aren't really competing for the same invoice. Drip Capital is a US-headquartered trade finance company built for exporters, financing invoices raised in USD, GBP, or EUR against buyers in the USA, UK, EU, and Canada. KredX is an Indian invoice discounting marketplace built for domestic INR invoices against Indian corporate buyers. This guide compares both on rate, speed, and eligibility, with a calculator and a platform picker.
AK
Ananya Krishnan
MSME Finance & TReDS Research Analyst · Ex-SIDBI & Deloitte
📖 13 min read🧮 Export finance calculator included📅 Verified July 2026
12–24%Drip Capital rate range p.a.
14.4–24%KredX marketplace rate range p.a.
2015Both platforms founded
$5B+Drip Capital trade financed to date
Quick Verdict
Choose Drip Capital if
Your buyer is overseas, in the US, UK, EU, or Canada, and your invoice is in USD, GBP, or EUR. This is the buyer profile Drip Capital was built to finance.
Choose KredX if
Your buyer is an Indian corporate and your invoice is in INR, especially if that buyer isn't registered on any TReDS exchange.
The one-line test: Is your buyer overseas or in India? Overseas points to Drip Capital. Domestic points to KredX, after first checking whether your buyer is already on a TReDS exchange, which would usually be cheaper.
What Drip Capital and KredX Actually Are
Drip Capital is a trade finance company founded in 2015 by Pushkar Mukewar and Neil Kothari, headquartered in Palo Alto, California, with an office in Mumbai. It provides invoice financing and purchase order financing for cross-border B2B trade, assessing the creditworthiness of the overseas buyer named on the invoice rather than the exporter's own balance sheet. It has financed more than $5 billion in trade across over 5,000 exporters, and is backed by Sequoia Capital India, Wing VC, and MUFG Innovation Partners. It operates as a specialty finance company, not a chartered bank or an RBI-regulated NBFC.
KredX is an Indian invoice discounting marketplace, also founded in 2015, incorporated as Minions Ventures Pvt Ltd and later rebranded, by co-founders Manish Kumar and Anurag Jain. It is headquartered in Bengaluru. KredX connects Indian businesses that need early payment with a network of investors who fund the invoice for a return, working with almost any creditworthy Indian buyer without requiring that buyer to be registered on an exchange. KredX's core marketplace product sits outside the RBI TReDS framework, though the company separately operates DTX, its own RBI-licensed TReDS platform.
The comparison that matters
Drip Capital and KredX solve invoice financing for two different buyer bases: overseas buyers in USD, GBP, or EUR on one side, Indian corporate buyers in INR on the other. Most businesses don't actually choose between them for the same invoice — they choose based on where their buyer is located.
Full Comparison: Drip Capital vs KredX
FactorDrip CapitalKredX (marketplace)
Core focusCross-border export invoices, buyers in USA, UK, EU, CanadaDomestic Indian invoices, buyers are Indian corporates
Founded2015, Palo Alto, California, by Pushkar Mukewar and Neil Kothari2015, Bengaluru, incorporated as Minions Ventures Pvt Ltd, by Manish Kumar and Anurag Jain
Invoice currencyUSD, GBP, EURINR
Buyer requirementOverseas buyer in a supported market, assessed on creditworthinessAlmost any creditworthy Indian buyer, no exchange registration needed
Regulatory statusUS specialty finance company, not a chartered bank or RBI-regulated NBFCCore marketplace is not TReDS-licensed. KredX separately operates DTX, its own RBI-licensed TReDS platform
Typical rate~1–2% per 30 days, roughly 12–24% p.a.~14.4–24% p.a. on the core marketplace product
Advance percentage80–100% of invoice value✓ WinUp to 90% of invoice value
Funding speed after approval24–48 hours once the invoice or PO is approved24–72 hours once an investor funds the invoice
First-time onboardingRoughly 5–10 business days✓ WinRoughly 10–14 days
Collateral requiredNone — underwritten on buyer creditworthinessNone — underwritten on buyer creditworthiness and invoice quality
RecourseVaries by agreement — verify in your contractVaries by agreement — verify in your contract
Documented scale$5B+ in cumulative trade financed, 5,000+ exporters served✓ WinNot publicly disclosed in comparable terms
BackingSequoia Capital India, Wing VC, MUFG Innovation PartnersNot publicly disclosed in comparable terms for the current entity
Best suited forExporters shipping to the US, UK, EU, or Canada on 30–120 day termsSellers with an Indian corporate buyer, especially one not on any TReDS exchange
Figures reflect publicly stated ranges as of July 2026. Confirm current terms directly with each platform before applying.
Export Finance Calculator
Enter an invoice amount and tenure to see an estimated cost on each platform. This uses the midpoint of each platform's publicly stated rate range, not a live quote.
Export Finance Calculator
Estimate Your Financing Cost
Uses the midpoint of each platform's publicly stated rate range. Neither platform publishes a fixed rate card — your actual quote depends on buyer risk and invoice terms.
Financing cost
$29,589
Platform fee
$0
Total cost
$29,589
Net received
$970,411
Illustrative only. Not connected to either platform's live pricing. Request a written quote before committing to an invoice.
Which Platform Fits You
The decision mostly comes down to where your buyer is based. Answer three questions for a recommendation:
Decision Tool
Which Platform Fits Your Invoice?
Answer 3 questions for a recommendation.
Question 1
Where is your buyer based?
Question 2
If your buyer is Indian, are they already registered on a TReDS exchange (RXIL, M1xchange, Invoicemart)?
Question 3
What matters most for this invoice?
Worked Examples
Two scenarios showing how each platform prices a similarly sized invoice for its intended buyer:
Example A
$50,000 export invoice, US buyer
Drip Capital ✓
An Indian textile exporter ships goods to a US buyer on 60-day terms and submits a $50,000 invoice to Drip Capital after shipment. Drip Capital quotes 1.5% per 30 days and advances 90% upfront.
$50,000
Invoice value
3.0% total
Rate (60 days)
$1,500
Financing cost
$48,500
Net received
Example B
₹15 lakh invoice, Indian buyer not on any TReDS exchange
KredX ✓
A components supplier invoices a mid-size private Indian buyer with no TReDS registration for ₹15 lakh at 60-day terms. KredX's marketplace quotes 18% p.a. plus a 1% platform fee.
₹15,00,000
Invoice value
18% p.a.
KredX rate
₹59,384
Financing cost + fee (60 days)
₹14,40,616
Net received
Neither example shows one platform beating the other on cost, because they aren't pricing the same buyer. The exporter in Example A couldn't have used KredX for a US buyer, and the supplier in Example B couldn't have used Drip Capital for an Indian buyer. The comparison that actually saves money is checking whether a cheaper regulated option exists first: TReDS for a domestic buyer already on an exchange, or ECGC-backed export credit for a qualifying exporter.
Decision Matrix
If you are...Use
Shipping goods to a buyer in the USA, UK, EU, or CanadaDrip Capital
Invoicing an Indian corporate buyer, not on any TReDS exchangeKredX
Invoicing an Indian corporate buyer already on RXIL or M1xchangeCheck TReDS first — usually cheaper
An exporter with both overseas and domestic Indian customersBoth — Drip Capital for export, KredX or TReDS for domestic
A first-time exporter with no credit history but a creditworthy overseas buyerDrip Capital
Needing funds against a blue-chip Indian buyer with no exchange registrationKredX
Eligibility & Documents
Drip Capital
→Business registration / incorporation documents
→IEC code (Import Export Code) for Indian exporters
→GST registration and returns, if applicable
→6–12 months of bank statements
→KYC of directors or owners
→Shipping proof — Bill of Lading, airway bill, or equivalent
→Buyer must be in a supported market and pass Drip Capital's credit assessment
KredX
→GST Registration Certificate
→Business PAN
→Current account bank details
→KYC of directors or partners
→Invoice from a buyer KredX is willing to underwrite
→No requirement for buyer registration on any exchange
Verify current terms before applying
Rates, fees, and eligibility rules change, and neither platform publishes a fixed rate card. Confirm current numbers directly with Drip Capital or KredX before submitting an invoice. Nothing here is financial advice.
FAQ — Drip Capital vs KredX
No. Drip Capital is a US-headquartered trade finance company built for cross-border invoices, financing exports to buyers in the USA, UK, EU, and Canada. KredX is an Indian invoice discounting marketplace built for domestic invoices, connecting Indian businesses with investors who fund invoices raised on Indian corporate buyers. They overlap in the broad category of invoice financing, but not in the buyers or currencies they support.
Their rate ranges are close. Drip Capital charges roughly 1–2% per 30 days, equivalent to about 12–24% p.a. KredX's core marketplace product runs about 14.4–24% p.a. Neither is reliably cheaper, since both price individually by buyer and invoice risk. The bigger cost question is usually whether a cheaper regulated alternative exists: TReDS for a domestic Indian buyer already on an exchange, or ECGC-backed export credit for a qualifying exporter.
KredX's core marketplace product is built around Indian corporate buyers and INR invoices, not cross-border trade. It is not the platform exporters typically use for a foreign-currency invoice to an overseas buyer. For an export invoice to a US, UK, EU, or Canadian buyer, Drip Capital is the platform built for that use case.
Drip Capital's product is built for cross-border invoices in USD, GBP, or EUR against buyers in the USA, UK, EU, and Canada. It does not finance India-to-India invoices. For a domestic Indian buyer, use KredX, a TReDS exchange such as RXIL or M1xchange, or another India-focused invoice discounting option.
Both advance funds quickly once an invoice is live. Drip Capital disburses within 24–48 hours after invoice approval. KredX advances within 24–72 hours once an investor funds the invoice. First-time onboarding is the slower step on both: roughly 5–10 business days on Drip Capital, and 10–14 days on KredX.
Neither requires hard collateral. Drip Capital underwrites based on your overseas buyer's creditworthiness rather than your own balance sheet. KredX lists your invoice to its investor base based on the credit profile of the Indian buyer named on it. Both rely on the invoice itself, and whatever reserve or advance terms sit in your agreement, as the underlying security.
Many businesses with both export and domestic customers do. Drip Capital covers invoices raised on overseas buyers, and KredX, or a TReDS exchange if the buyer qualifies, covers invoices raised on Indian corporate buyers. Each platform is built for a different buyer base, so using both usually covers more of a mixed order book than either alone.
Neither platform's core product carries an RBI TReDS license. Drip Capital operates as a US specialty finance company, not a chartered bank or an RBI-regulated NBFC. KredX's core marketplace product also sits outside the TReDS framework, though KredX separately operates DTX, its own RBI-licensed TReDS platform. RBI-licensed TReDS exchanges include RXIL, M1xchange, Invoicemart, and DTX.