Pallavi Shrivastava Transforming the Gender Narrative with Progcap

Pallavi Shrivastava, the co-founder of Progcap, a Google-backed fintech startup providing working capital to small and medium-sized businesses, doesn’t shy away from addressing the realities of gender bias and discrimination. With a career spanning corporate giants and the development sector, she offers a unique perspective on how to deal with these issues. Pallavi firmly believes that gender bias and discrimination aren’t exclusive to any gender; they affect everyone in some form, directly or indirectly. Instead of dwelling on bias, she advocates realizing the power to change the narrative. She emphasizes that merely talking about bias won’t bring change; action is needed.

Born into a family accustomed to relocating due to her banker father’s job, Pallavi developed a strong desire for freedom and a mission-driven career. She always aspired to run her own venture, knowing that it would provide both independence and an opportunity to create a meaningful impact. Pallavi’s path to entrepreneurship was paved with diverse job experiences, including roles at Infosys, Hinduja, World Bank, IFC, and others. Each position contributed to her skill set and honed her capabilities for the role of a founder. Her transition from the corporate sector to the development sector, even with a 60 percent pay cut, demonstrated her commitment to her mission.

Throughout her career, Pallavi often found herself in leadership roles as the only woman. However, she never encountered direct biases and credits her success to the support of mentors and bosses who valued her work. Despite her passion and competence, she faced an unexpected challenge in 2017 when seeking funding for Progcap. During a meeting with a woman VC, Pallavi mentioned that she co-founded the startup with her husband. The VC expressed doubts about funding couples due to higher failure and divorce rates in such ventures. This encounter deeply affected Pallavi, prompting her to research and challenge these assumptions with data. From then on, she began using a disclaimer in meetings, emphasizing the nature of her relationship with her co-founder and giving potential investors the opportunity to express any concerns.

Pallavi advises women founders not to become overly focused on gender-related challenges. She believes there are more important issues at stake, such as building a successful company and serving customers. While she acknowledges occasional biases, she encourages women to concentrate on their work and effect positive change in their organizations. At Progcap, Pallavi has proactively fostered gender diversity by leaving roles exclusively for women and ensuring that the majority of her direct reports are women. She believes that as a leader, she must be the change she wants to see. Progcap, under Pallavi’s leadership, has achieved remarkable success. Backed by investors like GrowX Ventures, the startup’s unique business model and visionary founders have attracted attention. However, it faces challenges related to evolving regulations and scaling operations while managing a growing asset base.

Pallavi Shrivastava believes that women possess immense power, often left untapped. She encourages women to embrace uncertainty and live with unanswered questions. This discomfort, she asserts, leads to growth, learning, and ultimately, success. Amidst the chaos and challenges, the beauty of what women can achieve shines through. In the journey of Pallavi Shrivastava, we find a passionate entrepreneur committed to her vision, determined to challenge biases, and dedicated to empowering women. Her story reminds us that real change occurs when individuals embrace their power and lead by example.