.2 min read through Final Improved: Sep 11 2024|12:14 AM IST.Digital lender platform FlexiLoans has increased Rs 290 crore in Set C backing coming from international and also residential investors, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organisation, Nuveen, and existing financier Maj Invest.FlexiLoans, which gives to small companies through a cash money flow-based finance model, are going to make use of the fresh capital to extend its own operations, improve its item offerings, and enhance its own technological structure, the business stated in a launch.The clean funding will definitely help the business expand its own possessions under monitoring (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To time, FlexiLoans has paid out over Rs 7,000 crore in financings around more than 2,100 cities and areas.." While as an NBFC our experts will certainly maintain elevating funds as and when required, this capital ought to be good enough for our team to expand to Rs 3,500 crore in AUM," stated Deepak Jain, founder, FlexiLoans.The company is targeting to disburse around Rs 5,000 crore in loans in FY25.In the next 3-4 years, the business may seek to go public, Jain said. "We wish to do it at the right time when our experts hit the right measurements as well as scale," he claimed, incorporating that the firm has actually been profitable for the final 3 years and also is actually targeting double-digit income in the existing financial year and triple-digit incomes in the upcoming fiscal year." Our credit history cost is actually around 3.3 per cent as of the June one-fourth. Our company have always stayed sub-5 per-cent as for credit scores costs are actually concerned," he claimed.Unitus Capital worked as the exclusive consultant to the transaction.Before this sphere, the company increased funding from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Funds, in addition to other prominent household offices.Very First Published: Sep 11 2024|12:14 AM IST.