In a bid to provide exporters with training in technology and invoice factoring, Drip Capital — a US-based fintech company — has signed a memorandum of understanding (MoU) with the Federation of Indian Export Organisations (FIEO) — the apex body for export promotion set up in partnership with the government of India.
The partnership will give small-and medium-sized exporters exposure to fintech solutions, widely considered to be one of the biggest disruptors in cross-border trade. Small exporters, who are often overlooked by banks or are otherwise unable to access the traditional banking system, can leverage these solutions to their benefit.
The Drip-FIEO partnership aims to help SME exporters of Indian to understand the available opportunities in a better way.
