Progcap
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Progcap - overview
Established
2017
Location
New Delhi, Delhi, India
Primary Industry
Financial Services
About
Established in 2017 and based in New Delhi, India, founded by Pallavi Shrivastava and Himanshu Chandra, Desiderata Impact Ventures Pvt. Ltd. trading under the name Progcap, operates as a financing firm that helps micro and small enterprises in growing their business by providing funds payable in a flexible term. In October 2022, Desiderata Impact Ventures Pvt.
Ltd. raised USD 50 million in series C funding co-led by returning investors Tiger Global Management and Creation Investments Capital Management, with participation from other returning investors GrowX Ventures and Sequoia Capital. New investors 9Unicorns, Google Inc. , Venture Catalysts, ZNL Growth and individual investors also participated in the round.
The company’s prime focus is on retail financing and offers flexible, collateral-free working capital to underserved micro and small-scale businesses through its Last Mile Retailer Finance (LMRF) solution. Propag provides an online platform and mobile application that enables clients to apply and submit documents, track their credit transactions, and make repayments. The firm also offers customizable finance and supply chain-based solutions for its customers. Propag’s lending platform scrutinizes businesses using non-traditional ecosystem data and offers a real-time credit scoring and loan disbursal option for its clients.
Current Investors
GrowX Ventures, Sequoia, Stride Ventures
Primary Industry
Financial Services
Sub Industries
Consumer Finance, e-Financial, Accounting/Finance Software
Website
www.progcap.com
Verticals
FinTech, Mobile Apps
Company Stage
Series C
Total Amount Raised
Subscriber access only
Progcap - timeline of key events
Progcap - financials
| Fiscal Year Ended | Mar 31, 2017 | Mar 31, 2018 | Mar 31, 2019 | Mar 31, 2020 | Mar 31, 2021 | Mar 31, 2022 | Mar 31, 2023 | Mar 31, 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | - | - | 627,488.1 | 8,514,185.2 | 59,191,771.7 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | 1256.9% | 595.2% | - | - | - |
| EBITDA (USD) | (334,339) | (4,022,210) | (18,146,918.5) | (74,922,879.7) | (55,862,537) | - | - | - |
| Operating Income (USD) | (334,339) | (4,022,210) | (18,238,070.1) | (75,561,200.2) | (59,919,389.9) | - | - | - |
| Operating Margin | - | - | (2906.5%) | (887.5%) | (101.2%) | - | - | - |
| % EBITDA Margin | - | - | (2892.0%) | (880.0%) | (94.4%) | - | - | - |
| NET Income (USD) | (334,339) | (4,022,210) | (18,244,781.2) | (72,250,130.4) | (54,261,730.6) | - | - | - |
| % Net Margin | - | - | (2907.6%) | (848.6%) | (91.7%) | - | - | - |
Progcap - employee data
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