.2 min read through Last Improved: Sep 11 2024|12:14 AM IST.Digital financing platform FlexiLoans has elevated Rs 290 crore in Series C financing coming from international as well as domestic capitalists, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organization, Nuveen, and also existing client Maj Invest.FlexiLoans, which provides to small businesses through a cash flow-based loaning model, will use the new capital to expand its operations, improve its product offerings, and enhance its technical structure, the firm mentioned in a release.The new capital will help the business grow its own possessions 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 lendings all over much more than 2,100 cities as well as metropolitan areas.." While as an NBFC we will maintain elevating funds as and also when demanded, this funding needs to be good enough for us to increase to Rs 3,500 crore in AUM," claimed Deepak Jain, co-founder, FlexiLoans.The organization is targeting to pay around Rs 5,000 crore in finances in FY25.In the upcoming 3-4 years, the business may hope to go public, Jain pointed out. "Our experts wish to do it at the correct time when our team reached the correct dimension as well as range," he mentioned, incorporating that the business has actually paid for the final three years as well as is actually targeting double-digit income in the present financial year and also triple-digit profits in the next financial year." Our credit price is actually around 3.3 per cent since the June fourth. Our team have actually constantly stayed sub-5 percent regarding credit score expenses are involved," he pointed out.Unitus Funds acted as the special expert to the transaction.Heretofore sphere, the provider elevated capital from Sanjay and Falguni Nayar, Maj Invest, Fasanara Resources, along with various other prominent loved ones workplaces.1st Published: Sep 11 2024|12:14 AM IST.