.2 min went through Final Upgraded: Sep 11 2024|12:14 AM IST.Digital lending system FlexiLoans has increased Rs 290 crore in Set C funding from global and also residential investors, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable company, Nuveen, as well as existing real estate investor Maj Invest.FlexiLoans, which provides to business by means of a cash flow-based loan design, will certainly make use of the new funding to extend its procedures, boost its own item offerings, and also reinforce its own technical framework, the firm said in a launch.The fresh funds will definitely aid the company grow its own resources under control (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has actually disbursed over Rs 7,000 crore in fundings throughout more than 2,100 cities as well as urban areas.." While as an NBFC we will maintain elevating funds as and when required, this financing must do our team to grow to Rs 3,500 crore in AUM," stated Deepak Jain, co-founder, FlexiLoans.The organization is actually targeting to pay around Rs 5,000 crore in fundings in FY25.In the following 3-4 years, the firm may want to go social, Jain pointed out. "Our experts desire to perform it at the correct time when our team attacked the right size as well as scale," he claimed, including that the provider has actually been profitable for the last 3 years and is actually targeting double-digit profit in the current financial year and also triple-digit profits in the upcoming financial year." Our credit report expense is actually around 3.3 per cent since the June one-fourth. We have actually consistently continued to be sub-5 percent as far as credit prices are regarded," he claimed.Unitus Financing functioned as the unique consultant to the deal.Heretofore around, the firm raised capital from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Funding, along with other famous family workplaces.First Released: Sep 11 2024|12:14 AM IST.