Venture debt fund Stride Ventures has led a debt round of Rs 10 crore in Progcap. These funds will be utilised to increase Progcap’s AUM and increase its penetration amongst retailers across the country. Further, Progcap will look to strengthen its ties with banks and corporates by leveraging Stride’s network.
Founded in 2017 by Pallavi Shrivastava and Himanshu Chandra, Progcap provides access to collateral-free working capital to retailers in Tier-II, III, and IV cities and has over 2 lakh retailers on its platform.
