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Progcap gets USD 25 mn Series B funding
Progcap has raised $25 mn equity capital as part of its Series B investment round led by Tiger Global and existing investor, Sequoia Capital India.
The company will deploy these funds to enhance its services and expand the brand’s presence across existing geographies. The firm will also use the capital to scale up the team, strengthen the technology differentiation and diversify into new product offerings to fortify its vision of building a full stack digital platform for last mile retailers.
Founded by Pallavi Shrivastava and Himanshu Chandra, Progcap has scaled to 300k retailers across 50 corporates and disbursed over Rs 1500 crore of loans for multi-tiered supply chains in India..