.2 minutes checked out Final Improved: Sep 11 2024|12:14 AM IST.Digital loan system FlexiLoans has actually raised Rs 290 crore in Series C backing from international and also domestic entrepreneurs, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, as well as existing entrepreneur Maj Invest.FlexiLoans, which provides to local business through a cash money flow-based loaning design, are going to utilize the fresh financing to broaden its own operations, enrich its product offerings, as well as reinforce its technological framework, the business said in a launch.The clean capital will assist the firm grow its own assets under control (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To day, FlexiLoans has actually paid out over Rs 7,000 crore in lendings across much more than 2,100 cities and also cities.." While as an NBFC our team will certainly keep elevating funds as and also when required, this resources needs to do us to develop to Rs 3,500 crore in AUM," mentioned Deepak Jain, co-founder, FlexiLoans.The firm is actually targeting to pay around Rs 5,000 crore in financings in FY25.In the upcoming 3-4 years, the firm could hope to go social, Jain claimed. "Our experts would like to do it at the right time when our experts hit the appropriate size and scale," he mentioned, adding that the company has actually been profitable for the last three years and is targeting double-digit profit in the existing financial year and also triple-digit profits in the following fiscal year." Our credit price is actually around 3.3 per cent since the June one-fourth. We have actually constantly continued to be sub-5 percent as for credit history expenses are actually worried," he stated.Unitus Capital acted as the special expert to the transaction.Heretofore round, the company raised funding coming from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Financing, together with various other famous loved ones workplaces.Initial Released: Sep 11 2024|12:14 AM IST.