.2 min read Last Updated: Sep 11 2024|12:14 AM IST.Digital loan platform FlexiLoans has increased Rs 290 crore in Series C backing from global and domestic capitalists, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organisation, Nuveen, as well as existing investor Maj Invest.FlexiLoans, which lends to small companies by means of a money flow-based loaning style, are going to utilize the new resources to expand its operations, enhance its item offerings, as well as enhance its technical infrastructure, the business stated in a release.The fresh capital will definitely help the provider grow its own possessions under monitoring (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To day, FlexiLoans has actually paid out over Rs 7,000 crore in fundings throughout more than 2,100 communities as well as urban areas.." While as an NBFC our team will definitely maintain elevating funds as and also when needed, this capital should be good enough for our team to increase to Rs 3,500 crore in AUM," claimed Deepak Jain, founder, FlexiLoans.The organization is targeting to pay around Rs 5,000 crore in loans in FY25.In the following 3-4 years, the company might try to go social, Jain claimed. "Our company want to do it at the correct time when our experts struck the best size and scale," he mentioned, adding that the company has paid for the last three years and also is targeting double-digit income in the existing financial year and also triple-digit revenues in the upcoming fiscal year." Our credit scores cost is around 3.3 per cent as of the June quarter. Our experts have actually consistently stayed sub-5 per-cent as far as credit rating expenses are concerned," he stated.Unitus Financing worked as the exclusive specialist to the deal.Before this round, the firm raised funding from Sanjay and Falguni Nayar, Maj Invest, Fasanara Resources, along with various other famous household workplaces.First Released: Sep 11 2024|12:14 AM IST.