.2 minutes checked out Final Updated: Sep 11 2024|12:14 AM IST.Digital borrowing system FlexiLoans has actually elevated Rs 290 crore in Series C funding from global and domestic clients, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, as well as existing real estate investor Maj Invest.FlexiLoans, which lends to small companies with a cash money flow-based finance style, will use the fresh funds to increase its own functions, boost its product offerings, and also reinforce its own technical framework, the provider stated in a launch.The fresh financing will certainly help the firm increase its properties under administration (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To date, FlexiLoans has actually paid over Rs 7,000 crore in loans around greater than 2,100 communities as well as urban areas.." While as an NBFC we will definitely keep increasing funds as and also when required, this financing should do us to grow to Rs 3,500 crore in AUM," said Deepak Jain, founder, FlexiLoans.The company is targeting to pay out around Rs 5,000 crore in lendings in FY25.In the upcoming 3-4 years, the business might look to go social, Jain said. "Our experts want to perform it at the right time when our experts hit the correct size and also scale," he mentioned, adding that the business has actually paid for the last three years as well as is actually targeting double-digit earnings in the existing fiscal year and also triple-digit profits in the next financial year." Our credit rating cost is actually around 3.3 per-cent as of the June one-fourth. Our team have always remained sub-5 per cent as for debt expenses are actually involved," he said.Unitus Funds worked as the unique expert to the purchase.Before this sphere, the provider raised financing coming from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Funds, along with other noticeable family workplaces.Initial Released: Sep 11 2024|12:14 AM IST.