# Desiderata Impact Ventures Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/desiderata-impact-ventures-pvt

- Industry: Financial Services
- Headquarters: New Delhi, India
- Website: www.progcap.com
- Total disclosed funding: $149M
- Latest round: Series C (Oct 17, 2022)
- Investors on record: 9

## About

Established in 2017 and based in New Delhi, India, founded by Pallavi Shrivastava and Himanshu Chandra, Desiderata Impact Ventures Pvt. Ltd. trading under the name Progcap, operates as a financing firm that helps micro and small enterprises in growing their business by providing funds payable in a flexible term. In October 2022, Desiderata Impact Ventures Pvt. Ltd. raised USD 50 million in series C funding co-led by investors Tiger Global Management and Creation Investments Capital Management, with participation from other investors GrowX Ventures, Sequoia Capital, 9Unicorns, Google Inc., Venture Catalysts and ZNL Growth.

The company’s prime focus is on retail financing and offers flexible, collateral-free working capital to underserved micro and small-scale businesses through its Last Mile Retailer Finance (LMRF) solution. Propag provides an online platform and mobile application that enables clients to apply and submit documents, track their credit transactions, and make repayments. The firm also offers customizable finance and supply chain-based solutions for its customers. Propag’s lending platform scrutinizes businesses using non-traditional ecosystem data and offers a real-time credit scoring and loan disbursal option for its clients.

The firm plans to utilize the October 2022 fund for expanding its service across the current geographies. Propag also plans to broaden its product offerings and technologies and aims at hiring new talents to the company’s team.

## Funding rounds

- Series C, Oct 17, 2022, $50M — Hong Shan, Tiger Global Management, Google Inc., Creation Investments Capital Management, GrowX Ventures, Venture Catalysts, Z Nation Lab, 100Unicorns
- Series C, Jun 30, 2022, $39M — Hong Shan, Tiger Global Management, GV, Creation Investments Capital Management
- Series C, Oct 4, 2021, $30M — Hong Shan, Tiger Global Management, Creation Investments Capital Management
- Series B, Jun 23, 2021, $25M — Hong Shan, Tiger Global Management
- Series A, Aug 8, 2019, $4.8M — Hong Shan, GrowX Ventures
- Seed, Aug 30, 2018, $1.1M — GrowX Ventures

## Investors

- GrowX Ventures (https://capitalatlas.ai/funds/growx-ventures) — Seed, Series A, Series C
- Hong Shan — Series A, Series B, Series C
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series B, Series C
- Creation Investments Capital Management (https://capitalatlas.ai/funds/creation-investments-capital-management) — Series C
- GV (https://capitalatlas.ai/funds/gv) — Series C
- Google Inc. — Series C
- Venture Catalysts (https://capitalatlas.ai/funds/venture-catalysts) — Series C
- Z Nation Lab (https://capitalatlas.ai/funds/z-nation-lab) — Series C
- 100Unicorns (https://capitalatlas.ai/funds/100unicorns) — Series C