.2 minutes went through Final Upgraded: Sep 11 2024|12:14 AM IST.Digital finance system FlexiLoans has actually raised Rs 290 crore in Series C backing coming from international and also residential entrepreneurs, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable company, Nuveen, and also existing entrepreneur Maj Invest.FlexiLoans, which gives to small businesses with a cash flow-based loaning style, are going to use the new funds to broaden its own operations, enrich its product offerings, and enhance its own technological structure, the firm said in a release.The fresh resources is going to help the business expand its own resources under management (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To day, FlexiLoans has paid out over Rs 7,000 crore in finances all over greater than 2,100 towns and cities.." While as an NBFC our team will certainly maintain elevating funds as and when required, this financing should be good enough for our team to increase to Rs 3,500 crore in AUM," pointed out Deepak Jain, founder, FlexiLoans.The firm is actually targeting to pay out around Rs 5,000 crore in fundings in FY25.In the next 3-4 years, the firm might seek to go public, Jain claimed. "Our experts desire to perform it at the correct time when our team struck the appropriate dimension and scale," he mentioned, including that the business has actually paid for the final 3 years and is actually targeting double-digit profit in the present financial year and also triple-digit revenues in the upcoming financial year." Our credit score price is actually around 3.3 percent since the June fourth. Our company have actually constantly stayed sub-5 per cent as for credit rating expenses are actually regarded," he said.Unitus Capital functioned as the exclusive advisor to the deal.Before this round, the business elevated resources coming from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Funding, alongside various other popular family members offices.Very First Published: Sep 11 2024|12:14 AM IST.