.2 min read Last Updated: Sep 11 2024|12:14 AM IST.Digital financing platform FlexiLoans has raised Rs 290 crore in Collection C financing from international and also domestic financiers, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, as well as existing real estate investor Maj Invest.FlexiLoans, which lends to small businesses by means of a cash flow-based lender design, will definitely use the clean funding to increase its own operations, boost its own product offerings, and strengthen its own technical facilities, the provider stated in a launch.The new capital will certainly help the firm increase its own possessions under administration (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To day, FlexiLoans has actually paid over Rs 7,000 crore in finances around greater than 2,100 cities and metropolitan areas..” While as an NBFC our experts are going to maintain elevating funds as and when demanded, this funds should do our team to expand to Rs 3,500 crore in AUM,” said Deepak Jain, founder, FlexiLoans.The agency is targeting to pay out around Rs 5,000 crore in finances in FY25.In the following 3-4 years, the business could want to go social, Jain said. “Our company intend to perform it at the correct time when we hit the correct size and scale,” he said, incorporating that the firm has been profitable for the last three years and also is targeting double-digit revenue in the existing financial year as well as triple-digit earnings in the upcoming financial year.” Our debt expense is actually around 3.3 percent as of the June fourth.
Our experts have constantly remained sub-5 per cent regarding credit rating prices are actually concerned,” he said.Unitus Resources acted as the special expert to the transaction.Before this around, the firm increased funds from Sanjay and Falguni Nayar, Maj Invest, Fasanara Resources, in addition to various other famous family members workplaces.First Published: Sep 11 2024|12:14 AM IST.