Co-founded by Pallavi Shrivastava and Himanshu Chandra, Progcap is the pioneer in corporate-led last mile financing solutions in India. Through its uniquely inclusive financing technology, Progcap is working to disrupt the market for credit for last mile businesses through a mix of technology and alternative data driven credit scoring. It is successfully providing the under-banked, semi-urban and rural retailers in India with access to flexible, collateral-free working capital.
With a wide outreach across 5 industries ranging from electronics, fast moving goods to groceries and essentials, the company has disbursed INR 500 crores in loans to retailers across Madhya Pradesh alone. The company is successfully catering to 4000-5000 retailers within the region with an exceptional Turn Around Time (TAT) of 24-48 hours for providing the credit limit from the date of application.
“We have also set up dynamic limits for retailers to provide them with sufficient credit to process orders during Diwali for the upcoming months. The company rolled out high trade incentives for the festive season as well. With the increased limits provided to retailers, they have been efficiently able to plan their sales, thereby increasing their profit margins.” said Ms. Pallavi Shrivastava, Co-founder & Director, Progcap.
Progcap has 60+ partners that are actively working alongside the company towards providing credit to retailers in tier-3/tier4 cities. The company also saw a 100% growth in September - November while providing credit to 2000 customers month-on-month. The platform has helped finance over 500,000 retailers across the country with over 3000 crore loan disbursals. Progcap aims to reach $1 billion in disbursals by March 2022.