.2 min went through Final Updated: Sep 11 2024|12:14 AM IST.Digital loaning platform FlexiLoans has actually raised Rs 290 crore in Set C financing from worldwide as well as residential financiers, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organization, Nuveen, and also existing client Maj Invest.FlexiLoans, which offers to small businesses with a cash money flow-based lender version, will definitely make use of the new resources to expand its own operations, improve its own product offerings, and strengthen its technological framework, the company pointed out in a launch.The fresh funding will certainly aid the firm expand its own assets under management (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has paid over Rs 7,000 crore in financings around more than 2,100 cities and metropolitan areas.." While as an NBFC we are going to always keep elevating funds as and also when demanded, this funding should do us to grow to Rs 3,500 crore in AUM," stated Deepak Jain, co-founder, FlexiLoans.The company is targeting to disburse around Rs 5,000 crore in financings in FY25.In the following 3-4 years, the provider might try to go social, Jain mentioned. "Our company would like to perform it at the correct time when we reached the best measurements and range," he mentioned, adding that the company has been profitable for the final 3 years and also is targeting double-digit revenue in the present fiscal year and also triple-digit revenues in the following financial year." Our credit history expense is actually around 3.3 per-cent since the June one-fourth. We have consistently continued to be sub-5 percent as far as debt costs are actually concerned," he claimed.Unitus Funding acted as the exclusive specialist to the purchase.Before this round, the company raised funding from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Capital, in addition to other famous family members offices.Initial Posted: Sep 11 2024|12:14 AM IST.