Empowering Entrepreneurs: Progcap's Bold Initiative for Women-Led MSMEs

Progcap, an MSME-centric fintech firm, launches the ProgShakti Development Program to provide collateral-free loans of up to Rs 10 lakh for women-led small and medium enterprises. Aiming to empower 10,000 women-led MSMEs in semi-urban and rural India by FY27, this initiative aligns with promoting women's workforce participation.

Progcap, a fintech company focused on micro, small, and medium enterprises (MSMEs), announced the launch of a new initiative designed to empower women entrepreneurs through collateral-free loans up to Rs 10 lakh.

Backed by notable investors such as Peak XV, Google, and Tiger Capital, Progcap aims to support 10,000 women-led MSMEs by fiscal year 2027 with its ProgShakti Development Program. Through this initiative, eligible women entrepreneurs can access financial resources and capacity-building knowledge sessions.

Co-founder Pallavi Shrivastava highlighted Progcap's mission to boost the representation of women-led businesses in their portfolio, setting an ambitious target to increase it from under 20% to 30% within two years. This initiative also contributes to India's broader 'Viksit Bharat' vision for 2047.

(With inputs from agencies.)