Progcap's Ambitious Growth: Aiming for Rs 3,000 Crore AUM by Year's End
Progcap, a fintech for MSMEs, plans to increase its assets under management to Rs 3,000 crore by the end of this financial year. The company is witnessing high growth and is also preparing for another round of funding. Its unique approach caters to India's extensive MSME sector.
- Country:
- India
MSME fintech startup Progcap is on track to significantly boost its assets under management (AUM) to Rs 3,000 crore by the end of the current fiscal year, fueled by the mounting demand for formal credit in the Micro, Small, and Medium Enterprises sector, a senior official has revealed.
Progcap, which secured an NBFC license in 2022, is experiencing a substantial growth trajectory, aiming for a 40-50% increase in business this year. According to co-founder Pallavi Shrivastava, AUM had already reached Rs 2,000 crore by March 2025, with projections for an escalation to Rs 3,000 crore by the fiscal year's conclusion.
Amidst plans for expansion, the company anticipates raising additional capital later this year, having already amassed USD 110 million through four financial rounds. With operations across 500 Tier II, III, and IV cities, Progcap uniquely caters to India's vast MSME market through its tech-led co-lending platform, addressing the sector's significant USD 100 billion credit gap.
(With inputs from agencies.)
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