.2 minutes read Last Improved: Sep 11 2024|12:14 AM IST.Digital lending platform FlexiLoans has actually raised Rs 290 crore in Series C financing coming from worldwide and domestic clients, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organization, Nuveen, and also existing investor Maj Invest.FlexiLoans, which provides to local business through a cash flow-based loan version, will certainly use the fresh resources to grow its procedures, improve its product offerings, and boost its technological structure, the business mentioned in a release.The fresh capital will certainly aid the business increase its own properties under management (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has actually paid over Rs 7,000 crore in financings across greater than 2,100 towns and also cities..” While as an NBFC our team will always keep raising funds as and also when required, this funding needs to do our team to grow to Rs 3,500 crore in AUM,” claimed Deepak Jain, founder, FlexiLoans.The organization is actually targeting to disburse around Rs 5,000 crore in financings in FY25.In the next 3-4 years, the firm might aim to go social, Jain said. “Our team desire to do it at the right time when we reached the ideal dimension as well as scale,” he stated, including that the provider has paid for the final three years and is targeting double-digit earnings in the current fiscal year as well as triple-digit profits in the upcoming financial year.” Our credit scores cost is around 3.3 per cent as of the June quarter.
Our team have actually always remained sub-5 percent as for debt prices are actually regarded,” he claimed.Unitus Financing acted as the unique expert to the purchase.Heretofore round, the company elevated capital coming from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Resources, along with various other popular family members offices.Very First Published: Sep 11 2024|12:14 AM IST.