Pragati FinServ Pvt Ltd, was incorporated in Fiscal 2021 with the aim of offering small ticket loans through an efficient, agile and scalable digital platform to under-served rural and semi-urban areas of the country. It's promoted by Northern Arc Capital under the leadership of cofounder Mr. Jagadish Babu Ramadugu, an industry veteran.
Pragati has been incorporated to meet the diverse customers' needs of the low-income households of rural and semi-urban areas. Pragati FinServ aims to become a one stop lending shop for its borrowers covering small ticket personal and business loans, two-wheeler loans, business LAP loans, home improvement loans, commercial vehicle loans etc.
Pragati aspires to have a national footprint and deliver its product nationally and be a dominant player in its area of operation.
The Loan products of Pragati are mainly delivered through the vehicle of both JLG and Individual lending Methodology. The products of Pragati are tailored to meet the needs of JLG, Graduated JLG and Small Business Owners. The team at Pragati has spent a tremendous amount of time and energy in the field in understanding the customers segments it wants to serve, their needs and aspirations. The product was designed in line with the customers’ aspirations and their needs.
The target customers of Pragati are low-income households in rural and semi-urban areas, engaged mostly in micro-enterprises and unorganized sectors. Pragati works with its customers at household level with equal focus on women and men. We believe that both women and men play an important role in household decision making.
Technology is the backbone of our organization and is the key differentiator for our organization to grow. Pragati has built a complete digital experience for its customers for their loan journey with capabilities like AI, Machine learning and robotic process automation.
The technology would enable Pragati to provide best in class Customer services, right-sized loans and quick turnaround time and these three would be the key focus for its product delivery.