.2 minutes checked out Last Upgraded: Sep 11 2024|12:14 AM IST.Digital lender platform FlexiLoans has actually elevated Rs 290 crore in Series C backing coming from worldwide and domestic financiers, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable company, Nuveen, as well as existing entrepreneur Maj Invest.FlexiLoans, which gives to small businesses via a money flow-based finance style, will definitely utilize the fresh financing to extend its own functions, enrich its item offerings, and also boost its technical structure, the company said in a release.The clean capital will definitely help the business expand its assets under control (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To day, FlexiLoans has actually paid out over Rs 7,000 crore in car loans all over greater than 2,100 cities and cities.." While as an NBFC our experts will definitely maintain raising funds as and when required, this resources ought to be good enough for us to increase to Rs 3,500 crore in AUM," claimed Deepak Jain, founder, FlexiLoans.The firm is actually targeting to pay out around Rs 5,000 crore in financings in FY25.In the next 3-4 years, the provider may want to go social, Jain mentioned. "Our company want to do it at the right time when our team struck the correct measurements as well as range," he mentioned, adding that the firm has been profitable for the final three years and also is actually targeting double-digit income in the present fiscal year and also triple-digit revenues in the next financial year." Our credit history price is around 3.3 per-cent as of the June fourth. Our company have actually constantly continued to be sub-5 percent regarding debt prices are actually regarded," he pointed out.Unitus Funding functioned as the special specialist to the transaction.Before this round, the firm increased capital from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Financing, along with various other famous family members workplaces.1st Released: Sep 11 2024|12:14 AM IST.