.2 minutes checked out Last Improved: Sep 11 2024|12:14 AM IST.Digital loaning platform FlexiLoans has actually raised Rs 290 crore in Set C backing from global as well as residential investors, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, as well as existing financier Maj Invest.FlexiLoans, which provides to small businesses through a money flow-based borrowing model, will certainly utilize the fresh resources to extend its own procedures, improve its item offerings, and enhance its technological facilities, the business mentioned in a launch.The clean capital will certainly aid the firm increase its own assets under monitoring (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 loans across greater than 2,100 cities as well as cities.." While as an NBFC our experts will certainly maintain elevating funds as and when required, this funding should be good enough for us to increase to Rs 3,500 crore in AUM," mentioned Deepak Jain, founder, FlexiLoans.The firm is actually targeting to disburse around Rs 5,000 crore in car loans in FY25.In the following 3-4 years, the firm might seek to go public, Jain said. "Our experts intend to do it at the right time when our experts hit the right dimension and scale," he claimed, incorporating that the provider has been profitable for the last three years and is actually targeting double-digit income in the current fiscal year as well as triple-digit revenues in the following fiscal year." Our credit report expense is actually around 3.3 per-cent as of the June fourth. Our company have consistently remained sub-5 per-cent as for credit history prices are actually involved," he pointed out.Unitus Capital served as the unique consultant to the deal.Heretofore around, the business elevated resources from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Resources, alongside other famous family members offices.Very First Published: Sep 11 2024|12:14 AM IST.