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Progcap Reviews

New Delhi

4.0/ 5

3 reviews

Progcap (Desiderata Impact Ventures Private Limited) is an award-winning inclusive financial technology platform based in New Delhi, India. Founded in 2017 by Pallavi Shrivastava and Himanshu Chandra, the company operates as a mission-driven entity focused on broadening financial opportunities for micro, small, and medium enterprises (MSMEs). Operating at the intersection of software and financial services, Progcap aims to become a full-stack retailer-focused digital bank that automates, digitizes, and eases capital movement across supply chains. The primary objective of Progcap is to revolutionize how financial access is delivered to underserved and underbanked semi-urban and rural retailers within the multi-billion-dollar Indian retail economy. To achieve this, the company combines supply chain digitization with specialized financing products, providing flexible, collateral-free working capital. By utilizing an innovative credit underwriting delivery model, Progcap performs risk assessments of businesses using non-traditional ecosystem data, effectively creating real-time credit scores and facilitating seamless loan disbursements for customers traditionally excluded by formal financial institutions. Progcap offers its solutions through a comprehensive online platform and mobile application. Its Last Mile Retailer Finance (LMRF) solution allows retailers to easily submit documents, track credit transactions, facilitate payments, and manage repayments. To strengthen its lending infrastructure following the implementation of digital lending guidelines in India, the group expanded operations through its wholly owned subsidiary, Progfin Private Limited, commencing direct lending operations in October 2022. By late 2025, the Progcap network had scaled to serve over 31,500 active borrowers and more than 40,000 retailers, spanning over 25 cities and managing an asset portfolio across diverse industries like fast-moving consumer goods (FMCG), agriculture inputs, white goods, two-wheelers, and emerging brands. The company's impactful business model has garnered strong investor confidence and significant capital backing. Progcap has raised approximately $111 million in total funding over multiple institutional investment rounds, reaching a Series C stage. Its prominent backer list features top-tier global venture capital and technology investors, including Peak XV Partners (formerly Sequoia Capital India), Tiger Global Management, Alphabet (Google), Creation Investments Capital Management, GrowX Ventures, Stride Ventures, Beams Fintech Fund, and 100Unicorns. Headquartered in the Qutab Institutional Area of New Delhi, with regional operations in Okhla, the company employs a dedicated workforce of over 470 professionals. Progcap’s industry innovations have also earned prestigious recognition, including the Gold Winner for SME Financier of the Year (Asia category) at the Global SME Finance Awards and multiple honors at the India Fintech Awards (IFTA).