Progcap’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)

Progcap, co-founded by Pallavi Shrivastava and Himanshu Chandra, is a leading financial technology company revolutionizing supply chain and retailer financing in India. Founded in 2017, Progcap provides last-mile financing solutions to underserved retailers and MSMEs, enabling them to access working capital seamlessly. By leveraging advanced technology, data-driven credit assessments, and a strong partner network, Progcap bridges the financing gap for small businesses across urban and rural India. Its platform empowers distributors and retailers with fast, flexible, and affordable credit, driving growth and improving livelihoods. The company continues to expand its product suite and geographic footprint while maintaining a focus on operational efficiency and financial inclusion, making it a key player in India’s fintech landscape.

Progcap’s revenue grew significantly from ₹180 Cr in FY22 to ₹350 Cr in FY23, and is projected to reach ₹500 Cr in FY24. Although not yet profitable, the company’s narrowing losses indicate operational improvements and stronger financial discipline.

Expense ratios improved from 90% in FY22 to a projected 65% in FY24, highlighting increased efficiency in lending processes and digital infrastructure.

Progcap’s workforce expanded from ~450 in FY22 to ~550 in FY23, expected to reach ~600 in FY24, supporting new growth in supply chain finance and digital expansion initiatives.

• Deepening presence in rural and semi-urban supply chain financing.
• Improving AI-driven underwriting and credit analytics.
• Focus on partnerships with retailers and distributors to expand reach.
• No IPO plans announced; focus remains on profitability and scaling.

Progcap raised $40 million in 2022 to bolster technology and expand its customer base, and has been recognized among top fintechs supporting India’s MSME ecosystem.

Progcap’s rapid growth, strong revenue trajectory, and focus on supply chain and retailer financing make it a standout in the Indian fintech space. While profitability is still in progress, its operational improvements and expanding reach suggest a promising future. Make smarter business decisions with verified insights on companies and directors. Visit Affluense.ai to learn more.

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