.2 min read Last Upgraded: Sep 11 2024|12:14 AM IST.Digital lending system FlexiLoans has raised Rs 290 crore in Series C backing from international and also residential financiers, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organisation, Nuveen, and also existing capitalist Maj Invest.FlexiLoans, which offers to business by means of a cash money flow-based loaning model, will use the fresh funds to expand its procedures, improve its item offerings, as well as reinforce its technological infrastructure, the firm said in a release.The new funds is going to help the business develop its own assets under control (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To date, FlexiLoans has actually disbursed over Rs 7,000 crore in financings around greater than 2,100 cities as well as cities.." While as an NBFC our team will definitely always keep increasing funds as and when required, this funds must be good enough for our team to grow to Rs 3,500 crore in AUM," mentioned Deepak Jain, co-founder, FlexiLoans.The firm is actually targeting to disburse around Rs 5,000 crore in loans in FY25.In the following 3-4 years, the firm might seek to go social, Jain said. "Our experts desire to do it at the correct time when our company attacked the ideal dimension and also range," he mentioned, incorporating that the provider has actually been profitable for the final 3 years and also is targeting double-digit revenue in the current financial year and triple-digit revenues in the next financial year." Our credit scores cost is actually around 3.3 per cent as of the June fourth. We have always remained sub-5 per-cent as for credit report prices are actually involved," he pointed out.Unitus Funds functioned as the exclusive expert to the deal.Heretofore sphere, the business raised financing from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Capital, together with other noticeable household workplaces.1st Posted: Sep 11 2024|12:14 AM IST.