Progcap: Accelerating Business Growth Through Last Mile Financing Solutions

With significant growth opportunities for the fintech market in India today, Progcap, established in 2017, has been aiding numerous micro and small organizations to sustainably grow their businesses by addressing the needs of these businesses with tailored financing solutions. With a broader picture of building a stronger economy for India, Progcap's flexible, collateral free credit helps in removing one of the biggest hurdles towards scale and economic opportunities by plugging them into formal financing systems. The company's first-of-its-kind Last Mile Financing Facilities are aimed at broadening the financial opportunities of individuals and businesses from traders, merchants, and shopkeepers, retailers, among others.

10 Most Recommended Fintech Startups - 2020

It’s a great omen that India, alongside China, is the fastest growing fintech market in the world. The subcontinent has a fintech adoption rate of 87 percent out of all emerging markets in the world. Remember, the global average adoption rate stood at 64 percent. Given the population of more than 130 crore, the sky's the only limit for fintech startups in the country. According to ResearchAndMarkets.com, the fintech market in India is anticipated to touch approximately Rs.6,207.41 billion by 2025, growing at a CAGR of around 22.7 percent. The bettering digital infrastructure, dynamically growing mobile users, and increasing adoption of the internet drive this trend. The Indian startups have been successfully leveraging this trend to attract increased investments into the sector. The excellent initiatives by the government of India ranging from Digital India to demonetization, Jan Dhan Yojana, Unified Payment Interface (UPI), and India Stack have also acted as a tailwind for the startups. However, in order to drive the benefits out of the aforementioned market trend, the startups will have to improve the lack of consumers' trust on digital payment platforms; to say nothing of the cyber and data security threats. Discerning the key progressions and developments in the Indian fintech-startup ecosystem, CIO Insider has come up with a list of ‘10 Most Recommended Fintech Startups - 2020’. The list comprises startups that have shown immense proficiency in their operations, improving financial literacy, and building an ecosystem around them, and in turn have been significantly driving the fintech industry’s growth bandwagon in India. The following list has undergone strict scrutiny by a panel of experts that include industry veterans & subject matter experts, CMOs, CEOs, analysts, and the CIO Insider editorial team. Let’s take a look.