Progcap secures Series A investment of $5 million led by Sequoia India

New Delhi-based fintech startup Progcap has secured $5 million in Series A funding, led by Sequoia India.

The round also saw participation from Credit Information Bureau (India) Ltd (CIBBIL) Chairman M.V. Nair, Whiteboard Capital partner Sandeep Tandon and existing investors GrowX Ventures Fund and Somak Ghosh.

Founded in 2017 by Pallavi Shrivastava and Himanshu Chandra, Progcap facilitates debt capital for underserved micro and small businesses in India.