New Delhi-based fintech startup Progcap has secured $5 million in a Series A funding round led by Sequoia India. The round also saw participation from CIBIL Chairman MV Nair, former founder of FreeCharge Sandeep Tandon, among others. Founded by Pallavi Shrivastava and Himanshu Chandra, Progcap provides access to collateral-free working capital to retailers in Tier-II, III, and IV areas.