When was Progcap founded?

Progcap was founded in 2016 and raised its 1st funding round 2 years after it was founded.

Where is Progcap located?

Progcap is headquartered in Delhi, India. It is registered at 1st Floor, C-3, Qutab Institutional Area, Katwaria Sarai, New Delhi, New Delhi, Delhi, India, 110016.

Which legal entities is Progcap associated with?

Progcap is associated with DESIDERATA IMPACT VENTURES PRIVATE LIMITED and 2 others.

How many employees does Progcap have?

As of May 31, 2026, the latest employee count at Progcap is 65.

Is Progcap a funded company?

Progcap is a funded company, having raised a total of $111M across 8 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Aug 30, 2018.

How much is Progcap worth?

The latest valuation of Progcap is $***** as of Nov 09, 2023.

When was the latest funding round of Progcap?

Progcap's latest funding was a $***** Conventional Debt round on 2023, with participation from 1 investor.

What is the annual revenue of Progcap?

Annual revenue of Progcap is between ₹100 Cr and ₹500 Cr as on Mar 31, 2025

Where does Progcap rank among its competitors?

Progcap ranks 16th amongst 327 active competitors, of which 65 are funded. It stands 8th in terms of total funding among its competitors. The most recent competitor to raise funding was DMI Finance, which secured $152M in Sep, 2026.

Who are the top competitors of Progcap?

Progcap's top competitors include InCred, Funding Societies and Moneyview. Among them, DMI Finance secured the most recent funding round in September, 2026.

Progcap - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Fintech platform offering supply-chain finance, credit, and MSME growth tools. Its platform combines supply-chain financing, structured credit programs, multi-lender digital journeys, and embedded credit with business tools such as credit and GST-based health assessments, Udyam registration, marketing services, and financing readiness insights. It also offers a distribution operating system with sales force automation, eB2B capabilities, ERP visibility, secondary sales tracking, financial analytics, and distribution intelligence.

Website: www.progcap.com/
Social
Email ID: *****@progcap.com
Phone Number: +91 **********
Registered Address: 1st Floor, C-3, Qutab Institutional Area, Katwaria Sarai, New Delhi, New Delhi, Delhi, India, 110016

Key Metrics

Founded Year

2016

Location

Delhi, India

Stage

Series C

Total Funding

$111M in 8 rounds

Latest Funding Round

Conventional Debt, 2023, $*****

Post Money Valuation

$***** as on Nov 09, 2023

Investors

Peak XV Partners & 28 more

Ranked

16^th among 327 active competitors

Annual Revenue

₹100 - ₹500 Cr as on Mar 31, 2025

Employee Count

65 as on May 31, 2026

Similar Companies

Funding Societies & 760 more

View Progcap's full profile

Progcap is associated with 3 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count
PROGCASH FINANCE SERVICES PRIVATE LIMITED CIN: U65990DL2021PTC382979 , India, Strike off	Jun 30, 2021	0 - ₹10 Cr (As on Mar 31, 2024)	-
Progcap Financial Services Private Limited CIN: U74110DL2019PTC350878 , India, Active	Jun 03, 2019	0 - ₹10 Cr (As on Mar 31, 2025)	91 (As on Aug 31, 2025)
DESIDERATA IMPACT VENTURES PRIVATE LIMITED CIN: U74999DL2017PTC310632 , India, Active	Jan 16, 2017	₹100 - ₹500 Cr (As on Mar 31, 2025)	65 (As on May 31, 2026)

Progcap has raised a total funding of $111M over 8 rounds. Its first funding round was on Aug 30, 2018. Its latest funding round was a Conventional Debt round on 2023 for $*****. 1 investor participated in its latest round. Progcap has 18 institutional investors and 11 angel investors.

Here is the list of recent funding rounds of Progcap:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
2023	9375	Conventional Debt	5427	5893	5701	8791
Jun 27, 2022	9952325	Series C	4308229	9492847	6780955	Ashish Gupta & 6 more
Oct 04, 2021	1332276	Series C	4033290	3274073	Tiger Global Management & 2 more	7069453

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View details of Progcap's funding rounds and investors

The founders of Progcap are Himanshu Chandra and Pallavi Shrivastava.

Here are the details of Progcap's key team members:

Himanshu Chandra: Co-Founder of Progcap and founder of 2 other companies, Progfin and Slice. They are also an angel investor in 1 startup and serve on the boards of 2 companies.
Contact Info: 2 phone numbers
Pallavi Shrivastava: Co-Founder & Managing Director of Progcap and founder of 3 other companies, Progfin, ProgComm and Slice. They are also an angel investor in 1 startup and serve on the boards of 2 companies.
Contact Info: 1 email address and 1 phone number

Progcap's Board of Directors

Progcap's board has 4 active members. Himanshu Chandra, Pallavi Shrivastava, Manu Rikhye and Remika Agarwal are part of team.

Here is the list of Progcap's board of directors:

Name	Type	Representing	Status	Duration
xpbu{ku	Team	-	Past	1y 5m
kuswqmx	Team	-	Past	5y 4m
Remika Agarwal	Investor	-	Current	1y 2m
{vbkwnw	Investor	-	Past	1y 6m

View details of Progcap's Founder profiles and Board Members

Progcap's employee count trend

Progcap has 65 employees as of May 26. The total employee count is 65.0% lower than what it was in May 25. Here is Progcap's employee count trend over the years:

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Top competitors of Progcap include InCred, Funding Societies and Moneyview. Here is the list of Top 10 competitors of Progcap, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	InCred 2016, Mumbai (India), Series D	Provider of financial services specializing in personal, education, and business loans	$320M	Paragon Partners, FMO & 130 others	82/100
2nd	Funding Societies 2015, Singapore (Singapore), Series D	Digital platform providing financing solutions for small businesses	$242M	Khazanah Nasional Berhad, Samsung Venture Investment ... & 53 others	81/100
3rd	Moneyview 2014, Bengaluru (India), Public	Provider of loans, credit cards, gold investment, insurance, and UPI	$215M	Accel, Tiger Global Management & 25 others	79/100
4th	BlackSoil 2010, Mumbai (India), Series C	Provider of alternative debt and supply chain financing solutions to businesses	$36.3M	FMO, MAHAVIR AGENCIES & 11 others	75/100
5th	Vivriti Capital 2017, Chennai (India), Series D	Provider of debt financing and credit solutions for mid-market enterprises	$205M	Creation Investments, TVS Capital Funds & 22 others	75/100
6th	Credit Saison 2019, Bengaluru (India), Series D	Provider of diverse financial products and lending solutions for businesses and individuals	$144M	Mizuho Financial Group, CTBC Bank & 4 others	74/100
7th	DMI Finance 2008, Delhi (India), Series E	Provider of personal loans, MSME loans, consumption loans, and electric vehicle loans	$1.13B	MUFG, MUFG & 5 others	71/100
8th	Liquidity Group 2018, New York City (United States), Series C	Provider of debt financing for growth stage technology business entities	$120M	Spark Capital, Apollo Funds & 7 others	70/100
9th	APAC Group 2017, Mumbai (India), Series B	Provider of financial loans for small and medium business enterprises	$90M	Rajamahendra Chola, Multiples Alternate Asset Management ... & 24 others	70/100
10th	MyShubhLife 2016, Bengaluru (India), Acquired	Provider of embedded finance platform offering loans for MSMEs and merchants	$29M	Pravega Ventures, Saama & 15 others	66/100
16th	Progcap 2016, Delhi (India), Series C	Fintech platform offering supply-chain finance, credit, and MSME growth tools	$111M	Creation Investments, Merak Ventures & 27 others	61/100

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DESIDERATA IMPACT VENTURES PRIVATE LIMITED, the legal entity associated with Progcap, generated between ₹100 Cr and ₹500 Cr in revenue for the financial year ending on Mar 31, 2025. The revenue of DESIDERATA IMPACT VENTURES PRIVATE LIMITED has a compounded annual growth rate (CAGR) of 75% in the last 1 year.

Financial Statement Summary

Metrics	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21
Income Statement
Revenue	9671	8400	1456	9673	9366
Total Sales	9293	5593	6058	3678	2187
Total Expenses	8985	6291	4303	5234	6318
Operating Expenses	4972	6210	5095	8567	4952
Employee Expenses	7104	4133	9649	6455	7680
Marketing Expenses	3383	6683	6780	5810	8363
Operating Income (EBIT)	2896	9969	5309	8190	1287
Interest Expenses	9642	5853	3944	5065	7720
Expenses from other activities	3412	7750	4368	5244	8305
EBITDA	6771	3393	1462	8438	3399
Taxes	3678	6800	9635	6393	4809
Net Profit	5339	1408	3550	2501	8084
Balance Sheet
Assets	6135	7441	1751	4455	1411
Cash Equivalent	5104	5440	9694	1979	5817
Accounts Receivables	3955	8978	7740	9144	9230
Inventory	9898	5197	4067	8127	4463
Liabilities	4567	3096	2628	3337	5281
Total Debt	1433	1875	2231	8567	7787
Accounts Payable	9775	1946	8161	4298	4452
Equities	5783	2040	8940	9632	7142
Cashflow Statement
Cash from Operating activities	1805	6490	8180	4422	6427
Cash from Investing activities	5023	2038	8159	9851	2324
Net cash from Financing activities	4203	9923	6889	4705	6975

Detailed Financials (Income Statement, Balance Sheet, Cashflow Statement)

Founders own 21.86%, Funds (largest shareholder) own 68.90%, Enterprises own 2.01% and Angels own 2.11%. The net worth of Progcap's founders is INR 1,010Cr as of Oct 12, 2022. The cap table displayed below is for DESIDERATA IMPACT VENTURES PRIVATE LIMITED which is the legal entity associated with Progcap.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	21.86%	1,010Cr	8395711	4431931	7070262	5458395
Pallavi Shrivastava	4231735	1524480	6940103	5742652	3642983	8284532
Himanshu Chandra	4270677	2011206	6992056	5208929	2078923	9449886
Fund	68.90%	3,190Cr	7999798	6432664	9766515	5109954
Tiger Global Management	8962807	8376981	1887521	2273735	8993287	6250337
Creation Investments	2228969	5170419	3005212	7173095	9958274	2947969
Enterprise	2.01%	93Cr	18	70	44	10
Angel	2.11%	97.6Cr	10	48	72	73
Other People	0.25%	11.6Cr	0	0	0	0
ESOP Pool	4.87%	226Cr	8036	6804	5065	2986
Total	100.00%	4,630Cr	2465381	5599835	8959192	8154494