.2 min read Final Upgraded: Sep 11 2024|12:14 AM IST.Digital lending system FlexiLoans has actually raised Rs 290 crore in Series C funding coming from international and domestic clients, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable company, Nuveen, as well as existing entrepreneur Maj Invest.FlexiLoans, which gives to local business through a cash flow-based financing design, are going to utilize the clean funds to grow its procedures, boost its own product offerings, and boost its technical infrastructure, the company said in a launch.The fresh funds will definitely aid the business expand its own properties under control (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To day, FlexiLoans has actually disbursed over Rs 7,000 crore in lendings throughout much more than 2,100 towns as well as urban areas.." While as an NBFC we will always keep increasing funds as and when required, this resources must be good enough for us to expand to Rs 3,500 crore in AUM," mentioned Deepak Jain, co-founder, FlexiLoans.The company is actually targeting to disburse around Rs 5,000 crore in car loans in FY25.In the following 3-4 years, the provider could aim to go social, Jain said. "Our company desire to perform it at the correct time when our experts struck the ideal measurements as well as scale," he claimed, adding that the firm has actually paid for the final three years and also is actually targeting double-digit profit in the present fiscal year as well as triple-digit profits in the next financial year." Our credit score price is actually around 3.3 per cent as of the June fourth. We have actually consistently remained sub-5 per-cent as far as credit report costs are actually regarded," he stated.Unitus Capital served as the unique advisor to the transaction.Before this around, the firm elevated resources from Sanjay and Falguni Nayar, Maj Invest, Fasanara Funds, together with various other prominent family offices.Very First Posted: Sep 11 2024|12:14 AM IST.