Progcap looks to raise $45 million equity capital in FY28

MSME fintech firm Progcap aims to raise up to $45 million (approximately Rs 425 crore) from share sales in FY28 to expand its lending business.

“We are planning a capital raise through equity dilution next financial year,” Progcap cofounder Himanshu Chandra told PTI.

It would be through private placement of shares, and the quantum could be in the range of $40-45 million, depending on the valuation, he said.