Progcap plans $45 million equity raise in FY28 to scale MSME retail lending
MSME fintech Progcap aims to raise up to $45 million via equity dilution in FY28, funding expansion across Tier II-IV towns. It serves 30,000 borrowers in 10 industries including FMCG and consumer durables, with 128 anchor brand partnerships and a ₹10 lakh average ticket size.
MSME fintech Progcap plans to raise up to $45 million via equity dilution in FY28 to expand lending to retailers and wholesalers across Tier II-IV towns, serving 30,000 borrowers in 10 industries including FMCG and consumer durables.
Why this matters
Progcap's planned $45 million FY28 raise signals a push deeper into India's underserved MSME retail credit market, scaling its anchor-brand model and Tier II-IV town footprint beyond its current 30,000 borrowers.
Retail-company signals steady at 3,943 over the last 90 days.