.2 min read Last Improved: Sep 11 2024|12:14 AM IST.Digital loaning platform FlexiLoans has actually raised Rs 290 crore in Set C backing from global and also domestic capitalists, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organization, Nuveen, and existing financier Maj Invest.FlexiLoans, which offers to local business through a cash flow-based loaning model, will make use of the fresh capital to expand its own functions, improve its product offerings, and also enhance its technical commercial infrastructure, the firm claimed in a release.The clean resources will definitely assist the business increase its assets under administration (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To day, FlexiLoans has actually paid over Rs 7,000 crore in loans across much more than 2,100 communities as well as urban areas.." While as an NBFC we will always keep raising funds as and also when demanded, this financing must be good enough for our company to grow to Rs 3,500 crore in AUM," mentioned Deepak Jain, founder, FlexiLoans.The company is targeting to pay out around Rs 5,000 crore in lendings in FY25.In the next 3-4 years, the business may seek to go social, Jain said. "Our team intend to do it at the right time when our company reached the right measurements and range," he mentioned, incorporating that the company has been profitable for the last three years as well as is targeting double-digit revenue in the current fiscal year and also triple-digit revenues in the next financial year." Our credit rating expense is around 3.3 per-cent since the June one-fourth. We have actually always remained sub-5 per cent as far as credit score expenses are actually involved," he claimed.Unitus Funds worked as the exclusive expert to the purchase.Heretofore around, the firm elevated financing from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Funding, together with various other prominent family offices.Very First Released: Sep 11 2024|12:14 AM IST.