New Delhi, July 29 -- Progcap, a fintech company focused on small businesses, is setting up a new vertical that will digitise their supply chains and offer them on-the-spot credit.

It is building a full-stack software-as-a-service (SaaS) platform for brands, distributors and retailers, expanding from pure-play lending into embedded finance as a second revenue source, co-founders Pallavi Shrivastava and Himanshu Chandra told Mint.

"Large corporates have access to platforms like Salesforce but the actual sales process on the ground was still very analog. If you can place the order on the spot and initiate the payment process immediately, it leads to better conversion. Smaller brands and distributors lacked access to such tech," said Chand...