.2 min checked out Final Updated: Sep 11 2024|12:14 AM IST.Digital lending platform FlexiLoans has actually raised Rs 290 crore in Series C backing from global and residential financiers, consisting of 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 via a cash flow-based loaning model, will certainly use the fresh capital to broaden its operations, enhance its own item offerings, and also strengthen its own technical framework, the provider claimed in a release.The new funding is going to assist the company develop its possessions under management (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To day, FlexiLoans has disbursed over Rs 7,000 crore in fundings around greater than 2,100 communities as well as metropolitan areas.." While as an NBFC our team will definitely always keep increasing funds as and also when needed, this resources should be good enough for our team to expand to Rs 3,500 crore in AUM," said Deepak Jain, founder, FlexiLoans.The company is targeting to pay around Rs 5,000 crore in financings in FY25.In the upcoming 3-4 years, the provider might seek to go social, Jain pointed out. "Our company wish to perform it at the right time when our team hit the correct size and also range," he stated, including that the provider has been profitable for the final 3 years and is actually targeting double-digit profit in the present financial year and triple-digit earnings in the upcoming fiscal year." Our credit report expense is around 3.3 per cent as of the June quarter. Our team have regularly continued to be sub-5 percent regarding debt prices are actually regarded," he said.Unitus Financing acted as the special specialist to the transaction.Heretofore around, the company increased funding from Sanjay and Falguni Nayar, Maj Invest, Fasanara Capital, alongside various other prominent family offices.First Released: Sep 11 2024|12:14 AM IST.