Established in 2017 by Pallavi Shrivastav and Himanshu Chandra, Prog Tier II, III and IV provide access to working capital for retailers in cities, where retailers usually face challenges in reaching capital for their businesses. is.
Startup Startup Progap Raises Rs 7 Crore
An increase in the previous startup business, which caters to the last mile business, has developed 7 million rupees. Contemporary investors with Sankar Ghosh and Abhishek Dalmiya along with the examiner also participated in the round.
Grosk has invested in more than 25 companies, including Docs, Fiend, Lockes, Mad St Dane.
Established in 2017 by Pallavi Shrivastav and Himanshu Chandra, Prog Tier II, III and IV provide access to working capital for retailers in cities, where retailers usually face challenges in reaching capital for their businesses. is. The company claims that more than half of its customers are new to the credit ecosystem.
The company's founders said in a statement, "Our vision is to broaden the opportunities for businesses in the last mile. There are over 20 million retailers in India who are unplugged by formal financing. We are working to create a platform to integrate these businesses into the real economy. "
According to the BCG report, the Indian digital loan industry is poised to grow dramatically with the potential market size of $ 100 billion by 2023. In addition, according to NASSCOM, things will continue to be visible with the Indian FineTech market and potentially touch $ 2.4 billion by 2020.