.2 minutes checked out Last Updated: Sep 11 2024|12:14 AM IST.Digital loan system FlexiLoans has raised Rs 290 crore in Series C financing coming from global and domestic investors, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organisation, Nuveen, as well as existing entrepreneur Maj Invest.FlexiLoans, which provides to small companies through a cash flow-based lender design, are going to utilize the fresh capital to increase its procedures, improve its own item offerings, and enhance its own technical facilities, the business stated in a release.The new funds will certainly assist the company develop its own resources under control (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To date, FlexiLoans has actually paid out over Rs 7,000 crore in finances across greater than 2,100 cities as well as metropolitan areas..” While as an NBFC our company will maintain increasing funds as and when required, this funding should be good enough for our team to grow to Rs 3,500 crore in AUM,” mentioned Deepak Jain, founder, FlexiLoans.The company is targeting to pay around Rs 5,000 crore in fundings in FY25.In the next 3-4 years, the company might look to go public, Jain said. “Our team want to do it at the correct time when our team struck the right measurements and scale,” he said, adding that the company has paid for the last 3 years as well as is targeting double-digit revenue in the current financial year and triple-digit profits in the next fiscal year.” Our credit report cost is around 3.3 per cent as of the June fourth.
Our team have actually consistently remained sub-5 percent as far as credit report expenses are actually concerned,” he claimed.Unitus Financing functioned as the exclusive specialist to the deal.Heretofore around, the company increased funding coming from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Funds, in addition to other prominent household offices.Initial Released: Sep 11 2024|12:14 AM IST.