VC Fund Investments
Retail financing startup Progcap raises $25-M led by Tiger Global, Sequoia Capital India
New Delhi-based retail financing startup Progcap has raised USD 25 million in a Series B investment round led by Tiger Global and existing investor Sequoia Capital India. The company will deploy these funds to expand its presence across existing geographies, to scale up the team, strengthen the technology differentiation and diversify into new products. Progcap aims to be a full stack retailer-focused digital bank which facilitates capital across the supply chain to underserved retailers.
From the Venture Intelligence PE-VC Deal Database: Starting Sep-18, Progcap had raised $6-M from Whiteboard Capital, Axis Capital Partners, Growx Ventures, Sequoia Capital India and Contrarian Drishti. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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