.2 min read Last Improved: Sep 11 2024|12:14 AM IST.Digital finance system FlexiLoans has elevated Rs 290 crore in Series C funding coming from global and also domestic capitalists, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit company, Nuveen, and also existing financier Maj Invest.FlexiLoans, which offers to local business with a money flow-based lender model, will certainly use the new resources to broaden its own procedures, boost its own item offerings, as well as enhance its own technological structure, the firm mentioned in a release.The fresh capital will certainly aid the firm expand its own assets under management (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To day, FlexiLoans has paid out over Rs 7,000 crore in car loans throughout more than 2,100 cities and also urban areas..” While as an NBFC our team are going to maintain elevating funds as and when needed, this capital must do us to grow to Rs 3,500 crore in AUM,” mentioned Deepak Jain, founder, FlexiLoans.The firm is targeting to pay out around Rs 5,000 crore in fundings in FY25.In the next 3-4 years, the company might seek to go social, Jain stated. “Our company would like to perform it at the right time when our company attacked the right measurements and also range,” he said, including that the company has been profitable for the last 3 years and also is actually targeting double-digit revenue in the present financial year and also triple-digit earnings in the next financial year.” Our credit report expense is actually around 3.3 per cent as of the June fourth.
Our team have constantly remained sub-5 per cent as far as debt prices are regarded,” he stated.Unitus Financing served as the exclusive expert to the purchase.Before this sphere, the company raised funding from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Resources, in addition to other noticeable family members workplaces.Very First Posted: Sep 11 2024|12:14 AM IST.