.2 min checked out Final Updated: Sep 11 2024|12:14 AM IST.Digital lender platform FlexiLoans has actually increased Rs 290 crore in Series C backing coming from global as well as residential investors, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organisation, Nuveen, and existing capitalist Maj Invest.FlexiLoans, which offers to small companies by means of a cash money flow-based finance model, will definitely use the clean financing to broaden its functions, enhance its product offerings, and reinforce its technological facilities, the business said in a launch.The fresh resources is going to help the firm increase its own possessions under monitoring (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To time, FlexiLoans has disbursed over Rs 7,000 crore in financings around more than 2,100 communities and also metropolitan areas.." While as an NBFC our team will certainly keep raising funds as and when needed, this capital needs to do our team to increase to Rs 3,500 crore in AUM," said Deepak Jain, co-founder, FlexiLoans.The agency is actually targeting to disburse around Rs 5,000 crore in financings in FY25.In the next 3-4 years, the business may try to go social, Jain stated. "Our team want to do it at the correct time when our experts attacked the best dimension as well as scale," he pointed out, adding that the firm has actually been profitable for the final 3 years as well as is actually targeting double-digit profit in the present financial year and triple-digit revenues in the next financial year." Our credit history cost is actually around 3.3 per-cent as of the June one-fourth. Our team have actually consistently continued to be sub-5 per cent as far as credit rating costs are regarded," he pointed out.Unitus Funds worked as the special specialist to the purchase.Before this round, the company elevated funds from Sanjay and Falguni Nayar, Maj Invest, Fasanara Financing, in addition to various other popular loved ones workplaces.1st Published: Sep 11 2024|12:14 AM IST.