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# Indian B2B lending startup Progcap secures $40 million in funding
- URL: https://www.techloy.com/indian-b2b-lending-startup-progcap-secures-40-million-in-funding/
- Published: 2022-06-28T09:42:07.000Z
- Updated: 2022-12-08T02:00:33.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: / Fintech

[Progcap](https://www.progcap.com/), an India-based business-to-business (B2B) platform has secured $40 million in its Series C extension funding round led by Creation Investments, Tiger Global Management, and Sequoia Capital.

- The fund will be used to support its expansion plans and scale its product development, the startup claims.
- Founded in 2017, Progcap offers collateral-free capital to small and medium sizes businesses in India.
- With 4x year-on-year growth, the startup has reached $1 billion in annualized disbursals.
- Google invested in the new round bringing Progcap to $120 million in total raise.