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.
Follow Elets Technomedia Channel on WhatsApp
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.
Also Read: Lentra Launches Growth Alliance Program to Help Emerging NBFCs Scale Amid Rapid Industry Growth
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.
Follow Elets Banking and Finance on LinkedIn
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
