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Progcap to utilise $10 million Series C fundraise for product expansion

videos | Oct 25, 2022 9:35 PM IST

Progcap to utilise $10 million Series C fundraise for product expansion

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Supply chain finance company Progcap has raised $10 million in its ongoing Series C funding round. Growth stage fintech fund, Beams Fintech Fund has invested in this round alongside Google, Creations, Tiger Global and Sequoia Capital. Progcap had raised $40 million in June 2022 and the total capital raised in the Series C funding round now stands at $50 million.

Supply chain finance company Progcap has raised $10 million in its ongoing Series C funding round. Beams Fintech Fund, a growth stage fintech fund, participated in this round alongside Google, Creations, Tiger Global, and Sequoia Capital.

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Progcap had raised $40 million in June 2022 and the total capital raised in the Series C funding round now stands at $50 million.
CNBC-TV18 spoke to Sagar Agarvwal, Co-Founder of Beams Fintech and Himanshu Chandra, Co-Founder of Progcap to discuss the road ahead for the company.
Also, Ishpreet Singh Gandhi, Managing Partner at Stride Ventures and Rahul Chandra, Co-Founder & MD at Arkam Ventures spoke about whether the funding winter for startups is here to stay.
According to a report by PWC, after three consecutive quarters of raising over $10 billion, total funding in the startup ecosystem fell 40 percent in the second quarter of 2023.
Moreover, Azzam Fakhoury, Head of Real Estate at Huspy spoke about the outlook for real estate market in Dubai. Post a tweak of the Golden Visa rules, Dubai has seen an unprecedented spike in real estate demand.
In July 2022, the total real estate sales transactions jumped 61.7 percent on a yearly basis and touched 20.8 billion dirhams. Indians are on top of the list in terms of buying homes and office spaces in Dubai.
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