New Delhi: Lending platform Progcap is looking to raise $45 million in equity funding in FY28 to support its next phase of growth and strengthen its technology-driven financing ecosystem for India’s small businesses.
Founded by Himanshu Chandra and Pallavi Shrivastava, Progcap enables small retailers and wholesalers to access working capital through a digital lending platform, helping bridge the credit gap for underserved businesses.
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The proposed fundraise is expected to support the company’s expansion strategy, enhance its technology capabilities, deepen lender partnerships, and scale credit access across India’s MSME ecosystem.
Progcap has built a strong presence in supply chain financing by leveraging data-driven credit assessment and digital underwriting to offer faster and more efficient financing solutions. The platform works closely with financial institutions to facilitate credit for merchants who often face challenges in accessing traditional bank loans.
The planned capital raise comes amid rising investor interest in India’s fintech and embedded lending ecosystem, as lenders increasingly focus on technology-enabled credit delivery, financial inclusion, and MSME financing.
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With fresh equity capital, Progcap aims to strengthen its market position and expand its reach among retailers and wholesalers, further supporting the digitisation of business lending in India.
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