.2 minutes checked out Final Updated: Sep 11 2024|12:14 AM IST.Digital lender system FlexiLoans has elevated Rs 290 crore in Series C financing from international and domestic entrepreneurs, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organisation, Nuveen, as well as existing capitalist Maj Invest.FlexiLoans, which lends to small companies through a cash flow-based loaning design, will certainly make use of the fresh capital to expand its operations, enrich its product offerings, as well as boost its technical facilities, the business mentioned in a launch.The fresh funding will definitely aid the provider expand its assets under administration (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has actually disbursed over Rs 7,000 crore in fundings throughout much more than 2,100 towns as well as metropolitan areas.." While as an NBFC our company will definitely keep raising funds as and also when required, this financing ought to do our team to develop to Rs 3,500 crore in AUM," claimed Deepak Jain, co-founder, FlexiLoans.The firm is actually targeting to pay around Rs 5,000 crore in car loans in FY25.In the next 3-4 years, the provider may try to go social, Jain claimed. "Our experts want to do it at the correct time when we hit the ideal dimension and range," he mentioned, including that the company has actually been profitable for the final three years and also is targeting double-digit profit in the present financial year and also triple-digit profits in the following fiscal year." Our credit scores expense is around 3.3 per-cent since the June one-fourth. Our company have actually constantly continued to be sub-5 per cent regarding credit report costs are actually involved," he claimed.Unitus Resources functioned as the special expert to the purchase.Heretofore round, the company raised financing from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Capital, along with various other popular loved ones offices.Initial Published: Sep 11 2024|12:14 AM IST.