Stride Ventures leads ₹10-crore debt round in Sequoia-backed Progcap February 09, 2021 Stride Ventures has led a debt round of ₹10 crore in Progcap, a growing fintech player providing access to fast and flexible collateral-free working capital to retailers. Founded in 2017 by Pallavi Shrivastava and Himanshu Chandra, Progcap provides access to fast and flexible collateral-free working capital to retailers in Tier-II, III, and IV areas, where retailers typically face challenges in accessing capital for their businesses. Through its Last Mile Retailer Finance (LMRF) facility, the fintech company which has over two lakh retailers on its platform, provides the underbanked, semi-urban and rural retailers in India access to flexible, collateral-free working capital and has scaled up over 5x post Covid-19 with best-in-class asset quality. The company will also look to strengthen its ties with banks and corporates by leveraging Stride’s network.