Sequoia India leads $5 Mn Series A round in Progcap

Progcap, which facilitates debt capital for underserved micro and small businesses, has raised an investment of $5 million led by Sequoia India. Sandeep Tandon, co-founder of Freecharge, MV Nair chairman of CIBIL along with existing partners GrowthX Ventures Fund and Yes Bank’s co-founder Somak Ghosh also participated in an ongoing Series A funding round.

The new infusion will be used to enhance its technology, expand presence in India and manage operational activities. (Source)

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