.2 min read Final Upgraded: Sep 11 2024|12:14 AM IST.Digital lender platform FlexiLoans has increased Rs 290 crore in Series C backing from global and domestic clients, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, and existing entrepreneur Maj Invest.FlexiLoans, which offers to small companies via a cash money flow-based finance style, will use the clean funds to broaden its own procedures, enhance its product offerings, as well as reinforce its own technological commercial infrastructure, the firm said in a release.The fresh resources will certainly assist the firm develop its assets under administration (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To time, FlexiLoans has paid out over Rs 7,000 crore in car loans all over much more than 2,100 cities and also cities.." While as an NBFC we will maintain increasing funds as and also when needed, this funds needs to do our company to increase to Rs 3,500 crore in AUM," pointed out Deepak Jain, founder, FlexiLoans.The firm is actually targeting to disburse around Rs 5,000 crore in loans in FY25.In the next 3-4 years, the company might look to go social, Jain said. "Our team want to perform it at the correct time when our experts reached the correct measurements and also range," he mentioned, incorporating that the firm has actually paid for the last three years and also is targeting double-digit revenue in the current financial year as well as triple-digit earnings in the upcoming fiscal year." Our credit expense is around 3.3 percent as of the June one-fourth. We have actually regularly remained sub-5 percent as far as credit report expenses are involved," he claimed.Unitus Capital worked as the unique specialist to the transaction.Before this sphere, the firm raised resources from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Financing, together with other famous loved ones workplaces.First Published: Sep 11 2024|12:14 AM IST.