.2 min read through Last Upgraded: Sep 11 2024|12:14 AM IST.Digital lending platform FlexiLoans has elevated Rs 290 crore in Series C backing from international and domestic investors, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit company, Nuveen, as well as existing real estate investor Maj Invest.FlexiLoans, which offers to business by means of a cash money flow-based finance style, will make use of the clean resources to extend its own procedures, enrich its own item offerings, as well as reinforce its technical framework, the firm pointed out in a launch.The new financing will certainly aid the company increase its resources under monitoring (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To time, FlexiLoans has actually paid over Rs 7,000 crore in fundings all over much more than 2,100 communities and urban areas.." While as an NBFC our experts will always keep elevating funds as and also when required, this funding should do our team to expand to Rs 3,500 crore in AUM," mentioned Deepak Jain, founder, FlexiLoans.The organization is actually targeting to pay out around Rs 5,000 crore in lendings in FY25.In the upcoming 3-4 years, the business may hope to go social, Jain mentioned. "Our experts desire to do it at the correct time when our team reached the best dimension and also scale," he said, incorporating that the business has actually been profitable for the final 3 years and is actually targeting double-digit income in the existing financial year as well as triple-digit incomes in the following fiscal year." Our credit report cost is actually around 3.3 percent as of the June quarter. Our experts have regularly stayed sub-5 per cent regarding credit score costs are regarded," he stated.Unitus Capital functioned as the special consultant to the deal.Heretofore around, the business raised financing coming from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Funding, along with other prominent household workplaces.1st Released: Sep 11 2024|12:14 AM IST.