fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
    • Product Launch
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Featured

Indian FinTech startup, Progcap secures $30 million in Series C led by Tiger Global

AsiaTechDaily Writer by AsiaTechDaily Writer
05 October 2021
in Featured, FinTech
0
Progcap
36
SHARES
Share on FacebookShare on Twitter
Bookmark (0)

Please login to bookmark

No account yet? Register

Indian FinTech Startup, Progcap has secured $30 million funding in a Series C round led by Tiger Global Management, Creation Investments and Sequoia Capital India.

The funding round comes after Progcap secured $25 million in a Series B funding round led by Sequoia Capital and Tiger Global Management three months ago. In the last three months, the startup has raised $55 million in funding and is positioned as the largest FinTech startup in the corporate-led retailer financing segment in the country.

Progcap will be using this new funding to build its supply chain banking platform for its corporate network and merchants in the country. By March 2022, the startup aims to reach $1 billion in disbursals.

According to Progcap founders, Pallavi Shrivastava and Himanshu Chandra, “The recent funding round will help us allocate resources toward our aspiration to become the largest digital bank for small retailers. While we are becoming relevant to many large corporate clients, we have only scratched the surface of India’s vast retailer market. As an organisation, our broader mission is to be an end-to-end service provider for all retailer transactions.”

Progcap in the last one year has grown its monthly disbursals volume by 400% and has expanded its business operations across ten industries while working along with leading corporates in these industries. The company has been adding new products consistently to its product suite to offer end-to-end service to its partners. Its platform is tapped by more than 60 corporates and about 450,000 retailers.

Alex Cook, Partner, Tiger Global said, “We have been impressed with the strong customer feedback and believe Progcap will continue to attract retailers looking for a modern credit and banking platform.”

“The company’s exceptional growth and pristine portfolio quality, in a challenging macro environment, speak volumes about the Progcap team and its bespoke MSME Buy-Now Pay-Later product. At Creation, our mission is to help provide financial inclusion for those with little or no access to it. This investment in Progcap aligns perfectly with our goals,” said Tyler Day, partner, Creation Investments.

About Progcap

Founded in 2017, Progcap offers financial solutions for micro and small businesses. The startup leverages a mix of technology and its unique delivery model to underwrite credit. Thus offering under-banked SMBs in rural and semi-urban India accesses to collateral-free, flexible working capital.

Progcap also provides finance and supply-chain based solutions for small and micro enterprises.

Tweets by progcap

 

Tags: financial solutionsFintechFintech startup
Previous Post

Australia’s Investible launches AU$100M Climate Tech Fund

Next Post

ChrysCapital acquires customer experience firm ResultsCX

Related Posts

edit post
Bayo Pay
Featured

Malaysia’s Bayo Pay bags $2.4m in Series A round led by VentureTECH SBI

June 2, 2023
edit post
Oxalus
Blockchain

Blockchain startup Oxalus raises $1.1m for NFT social commerce expansion

June 2, 2023
edit post
Sleek CEO, Eric Kim at the East meets West Pitch competition
AI & Big Data

Sleek’s ‘Hifive’ Fitness Platform Triumphs at 2023 East Meets West Pitch Competition in Hawaii

June 2, 2023
edit post
WeGoWhere
Featured

500 Global leads $1.2m Seed funding in social networking startup WeGoWhere

June 1, 2023
edit post
Hybr1d
Featured

SG startup Hybr1d raises $3.2m, eyes global workforce management expansion

June 1, 2023
edit post
TRIREC
Clean Technology

TRIREC, INNOPOWER team up for $100m green energy fund

May 30, 2023
Next Post
edit post
ResultsCX

ChrysCapital acquires customer experience firm ResultsCX

Discussion about this post

No Result
View All Result

Follow Us

FREE NEWSLETTER




Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
    • Product Launch
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback