Progfin Private Limited

Progcap was founded by Ms. Pallavi Shrivastava and Mr. Himanshu Chandra under Desiderata Impact Ventures Pvt. Ltd (DIV) in FY2017 as a digital lending platform connecting retailers and distributors with financiers. In September 2022, DIV acquired Hytone Holdings Pvt Ltd and renamed it Progfin Private Limited, which began lending operations in October 2022, sourcing borrowers through the Progcap platform; Progfin remains a wholly-owned subsidiary of DIV. Progfin offers anchor-led supply chain financing and working capital term loans across multiple sectors, including two-wheelers, agri inputs, white goods, FMCGs, and emerging brands. On a standalone basis, Progfin reported a profit after tax of Rs. 12 crore on total income of Rs. 258 crore in FY2025, up from Rs. 3 crore and Rs. 109 crore, respectively, in FY2024; for the period ended September 30, 2025, PAT stood at Rs. 3.9 crore on total income of Rs. 168.3 crore. Its AUM stood at Rs. 2,120 crore as of September 30, 2025, comprising dealer financing (64%) and working capital term loans (36%). On a consolidated basis, Progcap reported a loss of Rs. 6 crore on total income of Rs. 278 crore in FY2025, narrower than a loss of Rs. 46 crore on total income of Rs. 159 crore in FY2024; for the period ended September 30, 2025, it reported a PAT of Rs. 1.4 crore on total income of Rs. 173 crore, with a consolidated net worth of Rs. 742 crore as of that date.