Fintech startup Progcap on Monday raised $30 million in Series C round from existing investors Tiger Global Management and Creation Investments. Sequoia Capital India — which had led the last two funding rounds for Progcap — also participated in this financing. Progcap has raised $55 million in total in the last three months.
The startup will use the capital to build a broader and deeper supply chain banking platform for its merchants and corporate network in India. Progcap aims to reach $1 billion in disbursals by March 2022.
