.2 minutes read Last Updated: Sep 11 2024|12:14 AM IST.Digital loan platform FlexiLoans has increased Rs 290 crore in Set C funding from international as well as residential financiers, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit company, Nuveen, and existing investor Maj Invest.FlexiLoans, which gives to small companies with a cash flow-based borrowing style, are going to use the fresh funds to expand its own procedures, enrich its item offerings, as well as boost its own technological facilities, the firm claimed in a launch.The clean funds is going to assist the firm increase its resources under administration (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To date, FlexiLoans has actually disbursed over Rs 7,000 crore in car loans around more than 2,100 cities and also cities.." While as an NBFC our company will certainly keep increasing funds as and when needed, this funds should do our team to increase to Rs 3,500 crore in AUM," pointed out Deepak Jain, founder, FlexiLoans.The firm is targeting to pay out around Rs 5,000 crore in fundings in FY25.In the next 3-4 years, the business may hope to go social, Jain stated. "Our company desire to do it at the correct time when we struck the correct size and range," he said, incorporating that the provider has been profitable for the last 3 years and also is actually targeting double-digit income in the present financial year as well as triple-digit profits in the next financial year." Our credit history expense is actually around 3.3 per cent as of the June one-fourth. Our experts have actually always stayed sub-5 percent as for credit scores expenses are actually concerned," he said.Unitus Capital served as the exclusive advisor to the transaction.Before this around, the company raised funds coming from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Funding, together with various other prominent household offices.1st Published: Sep 11 2024|12:14 AM IST.