Tiger Global, Sequoia lead $25 mn round in financing startup Progcap

Retailer-focused financing startup Progcap has raised $25 million as part of its Series B investment round led by Tiger Global and existing investor, Sequoia Capital India. In 2019, it raised $5 million in a Series A round.

The company will deploy the 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, building a full stack digital platform for last mile retailers.

“We are thrilled to partner with the Progcap team as they help small and mid-size businesses get access to financing. We believe Progcap has an exciting path ahead as they continue to innovate in this underserved market,”