.2 minutes went through Final Updated: Sep 11 2024|12:14 AM IST.Digital finance system FlexiLoans has increased Rs 290 crore in Collection C backing from international and domestic investors, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit company, Nuveen, as well as existing entrepreneur Maj Invest.FlexiLoans, which offers to business by means of a cash flow-based finance design, will certainly utilize the fresh capital to extend its operations, improve its product offerings, and boost its technological framework, the firm stated in a launch.The fresh resources will certainly aid the firm expand its assets under control (AUM) from Rs 2,000 crore currently 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 towns and also cities.." While as an NBFC our experts will certainly maintain elevating funds as and also when called for, this funding needs to do our company to develop to Rs 3,500 crore in AUM," mentioned Deepak Jain, co-founder, FlexiLoans.The organization is actually targeting to disburse around Rs 5,000 crore in fundings in FY25.In the next 3-4 years, the firm may aim to go social, Jain stated. "Our team intend to do it at the correct time when our team struck the right size and scale," he pointed out, adding that the firm has actually paid for the last 3 years and also is targeting double-digit profit in the existing financial year as well as triple-digit incomes in the next fiscal year." Our debt cost is around 3.3 per cent as of the June quarter. Our experts have actually regularly continued to be sub-5 per-cent as for credit report expenses are concerned," he claimed.Unitus Capital served as the exclusive specialist to the transaction.Heretofore around, the firm raised funding from Sanjay and Falguni Nayar, Maj Invest, Fasanara Capital, in addition to other famous family members offices.Initial Released: Sep 11 2024|12:14 AM IST.