.2 min read through Last Updated: Sep 11 2024|12:14 AM IST.Digital lender platform FlexiLoans has actually raised Rs 290 crore in Collection C funding coming from global as well as domestic entrepreneurs, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit company, Nuveen, and also existing capitalist Maj Invest.FlexiLoans, which lends to small businesses via a cash money flow-based lending design, will definitely use the new financing to increase its procedures, enhance its own product offerings, as well as reinforce its own technical infrastructure, the provider pointed out in a release.The clean resources will definitely aid the company increase its own resources under management (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To day, FlexiLoans has actually disbursed over Rs 7,000 crore in fundings throughout greater than 2,100 communities and urban areas.." While as an NBFC our experts are going to keep elevating funds as and when demanded, this capital should be good enough for our company to grow to Rs 3,500 crore in AUM," said Deepak Jain, co-founder, FlexiLoans.The firm is targeting to pay out around Rs 5,000 crore in fundings in FY25.In the following 3-4 years, the firm could hope to go public, Jain pointed out. "We would like to perform it at the correct time when we attacked the best size as well as scale," he said, including that the business has actually been profitable for the last 3 years and is targeting double-digit revenue in the current fiscal year and triple-digit revenues in the next fiscal year." Our credit expense is actually around 3.3 percent as of the June quarter. Our company have actually regularly remained sub-5 per cent as far as credit score costs are actually worried," he stated.Unitus Resources functioned as the special consultant to the transaction.Heretofore around, the business increased resources coming from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Financing, together with other noticeable loved ones offices.Initial Published: Sep 11 2024|12:14 AM IST.