.2 min read Last Updated: Sep 11 2024|12:14 AM IST.Digital lending platform FlexiLoans has actually increased Rs 290 crore in Series C backing coming from international as well as domestic entrepreneurs, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organisation, Nuveen, as well as existing entrepreneur Maj Invest.FlexiLoans, which offers to small businesses via a money flow-based finance style, are going to use the new resources to increase its operations, enhance its item offerings, and also boost its own technological infrastructure, the company pointed out in a release.The fresh resources will certainly aid the business expand its own assets under monitoring (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To date, FlexiLoans has paid out over Rs 7,000 crore in financings all over much more than 2,100 towns as well as urban areas.." While as an NBFC our company will certainly maintain raising funds as and also when called for, this financing should be good enough for our company to grow to Rs 3,500 crore in AUM," stated Deepak Jain, founder, FlexiLoans.The company is targeting to pay around Rs 5,000 crore in car loans in FY25.In the upcoming 3-4 years, the firm might seek to go public, Jain stated. "Our company intend to perform it at the right time when we attacked the appropriate dimension and also scale," he stated, incorporating that the business has actually paid for the final 3 years and is targeting double-digit earnings in the present financial year and also triple-digit incomes in the following fiscal year." Our credit score cost is actually around 3.3 per cent as of the June one-fourth. Our experts have actually constantly stayed sub-5 per-cent regarding credit report costs are concerned," he said.Unitus Financing served as the special expert to the transaction.Before this around, the provider increased resources from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Resources, together with various other popular loved ones offices.First Released: Sep 11 2024|12:14 AM IST.