Progcap, an MSME-focused fintech firm backed by Peak XV (formerly Sequoia Capital India), Google, and Tiger Global, has unveiled a new initiative aimed at empowering women entrepreneurs. Dubbed the ProgShakti Development Program, this scheme provides collateral-free loans of up to ₹10 lakh to women-led small and medium enterprises (MSMEs) over the next three years. The firm’s goal is to benefit 10,000 women-led MSMEs in semi-urban and rural India by the fiscal year 2026–27.
Key Objectives and Program Features
- No Collateral or Male Co-Applicant Required: The program eliminates the need for physical collateral or a male co-applicant, enhancing access to credit for women entrepreneurs who may face systemic obstacles under conventional lending models.
- Capacity-Building Workshops: Progcap plans to conduct over 100 training workshops across India, covering business management and financial planning to equip women entrepreneurs with essential skills to grow their ventures.
- Long-Term Vision — “Viksit Bharat 2047”: The initiative aligns with India’s broader ambition of achieving a developed economy by 2047. Central to this vision is increasing women’s workforce participation—currently targeted at 70%. ProgShakti is envisioned as a step toward this inclusive economic future.
About Progcap
Founded by Pallavi Shrivastava and Himanshu Chandra, Progcap offers an integrated platform combining finance, technology, and commerce services tailored for MSMEs. Since its inception, it has facilitated over USD 4 billion in financing and supported more than 100,000 businesses.
Co‑founder Pallavi Shrivastava also noted that Progcap is targeting an increase in its portfolio share of women-led enterprises—from under 20% currently to 30% within two years—demonstrating a concrete commitment to gender inclusion in lending
Summary Table
| Aspect | Details |
| Program name | ProgShakti Development Program |
| Loan amount | Up to ₹10 lakh, collateral-free |
| Target beneficiaries | 10,000 women-led MSMEs in semi-urban and rural areas by FY 2026–27 |
| Key features | No male co-applicant needed; business and financial training enabled |
| Strategic alignment | Supports “Viksit Bharat 2047” and 70% women workforce participation goals |
| Founders | Pallavi Shrivastava & Himanshu Chandra |
| Impact to date | Over USD 4 billion lent across 100,000+ MSMEs |
| Future target | Increase women-led MSMEs’ share in portfolio to 30% in two years |
This program reflects a strong, inclusive approach—offering tailored financial and educational support to women entrepreneurs, especially those in underserved regions. Let me know if you’d like a deeper dive into Progcap’s lending models, or a comparison with similar initiatives!
