.2 minutes reviewed Last Improved: Sep 11 2024|12:14 AM IST.Digital borrowing system FlexiLoans has actually raised Rs 290 crore in Series C funding coming from worldwide and also residential capitalists, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organization, Nuveen, and existing entrepreneur Maj Invest.FlexiLoans, which gives to local business with a cash flow-based financing model, will certainly use the fresh funds to grow its own functions, boost its item offerings, as well as enhance its own technical commercial infrastructure, the company claimed in a release.The new funds will definitely aid the company increase its own resources under control (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To time, FlexiLoans has actually paid over Rs 7,000 crore in car loans across much more than 2,100 communities as well as cities.." While as an NBFC we are going to maintain elevating funds as and when called for, this capital must do us to increase to Rs 3,500 crore in AUM," claimed Deepak Jain, founder, FlexiLoans.The organization is targeting to disburse around Rs 5,000 crore in lendings in FY25.In the next 3-4 years, the provider may hope to go social, Jain mentioned. "Our team would like to perform it at the correct time when our team attacked the best measurements and scale," he said, adding that the firm has actually paid for the final three years as well as is actually targeting double-digit income in the present financial year and also triple-digit earnings in the upcoming fiscal year." Our debt expense is actually around 3.3 percent since the June quarter. Our team have actually regularly continued to be sub-5 per cent regarding credit scores prices are concerned," he stated.Unitus Financing functioned as the special advisor to the transaction.Before this sphere, the business elevated capital from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Financing, in addition to various other famous family members workplaces.Initial Posted: Sep 11 2024|12:14 AM IST.