Small and mid-size business-focused financing provider Progcap, run by Desiderata Impact Ventures Private Limited, has raised a total of US$70 million (approx. ₹556 crore) in its Series C funding round.

Google joined the existing investors Creation Investments and Tiger Global to invest US$40 million (approx. ₹308 crore) as part of the round. Sequoia Capital India pitched in the remaining US$ 30 million

Khaitan & Co advised Google on the deal, and assisted with reviewing, commenting and negotiating the transaction documents.

The transaction team consisted of Nikhil Narayanan (Partner), Siddharth Marwah (Principal Associate)

Progcap plans to use the fresh capital towards product development and support current expansion efforts, as was reported by LiveMint.

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