.2 min checked out Final Updated: Sep 11 2024|12:14 AM IST.Digital loaning system FlexiLoans has increased Rs 290 crore in Series C financing from international and residential investors, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable company, Nuveen, as well as existing financier Maj Invest.FlexiLoans, which provides to local business with a cash flow-based lending style, will certainly make use of the fresh capital to extend its own procedures, enrich its own product offerings, and also boost its technical facilities, the firm claimed in a launch.The clean funding will help the company expand its own assets under management (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 financings across more than 2,100 towns and areas.." While as an NBFC we will definitely keep raising funds as and also when called for, this resources must do our team to increase to Rs 3,500 crore in AUM," claimed Deepak Jain, founder, FlexiLoans.The organization is targeting to pay out around Rs 5,000 crore in fundings in FY25.In the next 3-4 years, the business may look to go social, Jain stated. "We wish to do it at the right time when we attacked the right size and also scale," he mentioned, adding that the firm has actually paid for the last three years as well as is actually targeting double-digit profit in the current financial year and triple-digit revenues in the upcoming fiscal year." Our credit cost is actually around 3.3 percent as of the June quarter. Our team have consistently stayed sub-5 per cent as far as credit rating prices are worried," he claimed.Unitus Capital worked as the exclusive consultant to the transaction.Heretofore sphere, the company elevated capital from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Funds, alongside other prominent loved ones offices.Initial Posted: Sep 11 2024|12:14 AM IST.