.2 min reviewed Last Improved: Sep 11 2024|12:14 AM IST.Digital financing platform FlexiLoans has increased Rs 290 crore in Series C financing from international and also residential financiers, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organisation, Nuveen, and existing investor Maj Invest.FlexiLoans, which lends to small companies with a money flow-based loaning style, will certainly use the fresh financing to grow its procedures, improve its own item offerings, as well as strengthen its technical framework, the business said in a release.The new funding is going to aid the provider expand its own resources under monitoring (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To day, FlexiLoans has paid out over Rs 7,000 crore in lendings across much more than 2,100 cities and cities.." While as an NBFC our experts will definitely always keep raising funds as and also when required, this funds should do us to expand to Rs 3,500 crore in AUM," stated Deepak Jain, co-founder, FlexiLoans.The organization is actually targeting to pay around Rs 5,000 crore in finances in FY25.In the next 3-4 years, the provider might hope to go social, Jain said. "Our company desire to do it at the correct time when our experts attacked the correct measurements and scale," he mentioned, including that the provider has been profitable for the final 3 years as well as is targeting double-digit income in the current financial year as well as triple-digit profits in the next fiscal year." Our credit scores cost is around 3.3 per-cent as of the June one-fourth. Our experts have regularly remained sub-5 per cent as far as credit score costs are regarded," he mentioned.Unitus Financing acted as the special consultant to the transaction.Heretofore round, the company increased funding coming from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Resources, along with various other noticeable family members workplaces.Initial Released: Sep 11 2024|12:14 AM IST.