Progcap, Digitising Access to Credit to Underserved Retailers

ProgCap’s Goals and Vision, and the story of how the start-up was conceptualised.

Who are ProgCap?

ProgCap is a New Delhi based Fintech start-up and a ‘last-mile retail financing solution provider’. ProgCap’s co-founders are Pallavi Shrivastava and Himanshu Chandra. The company has its in-house fintech product targeted at the ‘small Indian retailer’ market. They act as a financier for the SMB (small and medium-sized business) community. ProgCap has recently raised $25 M in a Series B investment round backed by Tiger Global and Sequoia Capital India.

What Led to Its Inception?

The start-up was conceptualised when one of the founders of ProgCap became aware that credit and working capital access was completely non-existent in the retailer segment. The solution was soon found in ‘well-structured financing products’ and the market opportunity was found to be 15 million retailers valued at $800 B. 

ProgCap’s Goals and Vision

The company holds a vision of ‘building a full-stack digital platform for last-mile retailers. It also wants to become ‘the first full-stack retailer-focused digital bank to facilitate capital flow across the supply chain’ so that disadvantaged retailers can get access. ProgCap aims at making its impact and presence felt across 5 million enterprises by the end of 2023. 

Learnings, Insights and Takeaways for Fintech start-ups

ProgCap discovered an untapped market with a massive potential thanks to their keen eye. It helped them to uniquely position themselves with a unique product. By addressing the challenges faced by small retailers who contribute a sizeable chunk to the Indian retail Industry, they found the opportunity to fill large shoes. 

They brought innovation into a neglected market making them a particularly important entity for their target consumers. The collateral free loans availed by small retailers through ProgCap are immensely beneficial for their financing needs. ProgCap’s success can be attributed to a promising vision, strong capability and the support of its ‘outstanding portfolio quality’.


The solution was soon found in ‘well-structured financing products’ and the market opportunity was found to be huge (15 million retailers valued at $800 B).

What’s in it for me?

Small businesses in India need a leg up when it comes to financial assistance. There’s ample room in the fintech space for innovative solutions by start-ups. Fintech start-ups stepping into this space can partner or collaborate with small finance institutions to fulfill working capital requirements of small businesses. Supply chain finance is a profitable segment in the lending business, and your fintech product can help digitise the process. The main problem for small businesses especially in the retail and supply chain segment is that they are located in geographies which are inaccessible by small financial institutions and their branch networks. Your fintech product can serve as the digital bridge to unite the two entities.  

On another note, if you are a retail small business, you can digitize your supply chain through ProgCap’s services. If you are new to the retail business and new to the world of credit as well, you can skip the bank and head straight to ProgCap to raise ‘last-minute capital’ with ease. You will experience flexible repayment options tailored to your cash flow. ProgCap has an interesting portfolio of services that you can look into such as ‘transaction tracking’ and digital payments. 

Anju Nambiar
Anju Nambiar
Anju has 5 years of experience covering business. She writes on startups, business life cycle and startup ecosystem. Her stints include Amazon and Adjetter Media Network.



Please enter your comment!
Please enter your name here

Disclaimer: The opinions expressed by columnists are their own, not those of Dutch Uncles

If you wish to contribute or have a story suggestion,
email to [email protected]


Mastering Impactful Communication: Essential Skills for Aspiring...

Effective communication is the lifeblood of any successful organization,...

Navigating the Path to Impactful Leadership: From...

In the ever-evolving SME/Startup landscape, the distinction between managers...

B2B Aggregators Disrupting the FMCG Distribution

The independent grocery store colloquially known as the Kirana...