Progcap targets $45 Mn equity raise in FY28 to deepen MSME retail lending
MSME fintech Progcap plans to raise up to $45 million (Rs 425 crore) via equity dilution in FY28, funding expansion across Tier II-IV towns. The platform serves 30,000 borrowers across 500 cities with 128 anchor brand partnerships and Rs 10,000 crore in credit, growing 40% YoY.
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 India's distributed MSME retail supply chains.
Why this matters
The planned FY28 raise builds on Progcap's MSME retail lending scale-up, aligning with its earlier signal to raise $45 million to expand credit access in smaller cities.
Retail-company signals steady at 3,944 over the last 90 days.