VC Fund Investments
Supply chain finance co Progcap raises funding led by Beams Fintech Fund
Beams Fintech Fund has invested in the Series C round of Delhi-based Progcap, a supply chain finance company. Beams had invested alongside Google, Creation Investments, Tiger Global and Sequoia Capital India in this round. 9Unicorns and ZNL Growth Fund also participated. Progcap claims to bridge the gap between distributors and retailers through specialised finance, payments, and technology. Other investors in the company include GrowX, CIBIL chairman MV Nair, and Freecharge co-founder Sandeep Tandon.
From the Venture Intelligence PE-VC Deal Database: Between Sep 18 and Jun 22, Progcap had raised over USD 100 M from Growx Ventures, Sequoia Capital India, Tiger Global, Creation Investments and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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