.2 min read Last Upgraded: Sep 11 2024|12:14 AM IST.Digital loaning system FlexiLoans has actually elevated Rs 290 crore in Series C backing from global as well as domestic clients, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, and also existing client Maj Invest.FlexiLoans, which gives to small businesses with a cash flow-based borrowing design, are going to utilize the fresh financing to broaden its own operations, improve its item offerings, and also reinforce its technical infrastructure, the firm pointed out in a release.The clean financing will assist the business grow its properties under administration (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To time, FlexiLoans has actually paid out over Rs 7,000 crore in finances around greater than 2,100 cities as well as metropolitan areas.." While as an NBFC our team will always keep elevating funds as and also when called for, this resources must do our company to expand to Rs 3,500 crore in AUM," pointed out Deepak Jain, co-founder, FlexiLoans.The organization is targeting to disburse around Rs 5,000 crore in financings in FY25.In the next 3-4 years, the provider could aim to go public, Jain said. "Our team wish to do it at the right time when our company attacked the best size and range," he mentioned, incorporating that the company has actually paid for the final three years as well as is targeting double-digit income in the present fiscal year as well as triple-digit revenues in the upcoming fiscal year." Our credit rating expense is actually around 3.3 percent as of the June quarter. Our experts have actually constantly stayed sub-5 per cent as far as credit rating prices are worried," he said.Unitus Financing acted as the special specialist to the transaction.Heretofore sphere, the company raised capital from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Capital, together with other prominent family members offices.Initial Posted: Sep 11 2024|12:14 AM IST.