.2 min reviewed Last Updated: Sep 11 2024|12:14 AM IST.Digital lender platform FlexiLoans has raised Rs 290 crore in Set C funding coming from international and domestic financiers, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organisation, Nuveen, as well as existing investor Maj Invest.FlexiLoans, which provides to business via a cash flow-based financing model, will certainly utilize the fresh financing to expand its own procedures, improve its item offerings, as well as strengthen its technical framework, the firm pointed out in a launch.The new funding will certainly help the firm expand its resources under monitoring (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To time, FlexiLoans has actually paid over Rs 7,000 crore in fundings throughout much more than 2,100 communities as well as areas.." While as an NBFC our company will certainly always keep increasing funds as and when needed, this funds ought to do our team to expand to Rs 3,500 crore in AUM," stated Deepak Jain, founder, FlexiLoans.The organization is actually targeting to pay out around Rs 5,000 crore in fundings in FY25.In the upcoming 3-4 years, the business may aim to go social, Jain said. "Our experts intend to perform it at the correct time when our team struck the best measurements and also range," he said, including that the business has been profitable for the final 3 years as well as is targeting double-digit income in the existing fiscal year and also triple-digit profits in the following fiscal year." Our credit score expense is around 3.3 per-cent since the June fourth. Our experts have actually regularly continued to be sub-5 per-cent as for credit rating prices are worried," he claimed.Unitus Resources served as the unique consultant to the purchase.Heretofore around, the company elevated capital coming from Sanjay and Falguni Nayar, Maj Invest, Fasanara Resources, together with various other noticeable household offices.Very First Posted: Sep 11 2024|12:14 AM IST.