.2 min read Last Improved: Sep 11 2024|12:14 AM IST.Digital lending platform FlexiLoans has elevated Rs 290 crore in Set C funding from worldwide as well as residential investors, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, as well as existing investor Maj Invest.FlexiLoans, which gives to small businesses with a cash flow-based financing design, will use the clean funds to broaden its procedures, enrich its own product offerings, and also enhance its technical structure, the provider mentioned in a launch.The fresh funding is going to aid the firm grow its own possessions under management (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has paid over Rs 7,000 crore in car loans throughout much more than 2,100 cities and cities.." While as an NBFC our team will maintain increasing funds as and also when called for, this funding ought to be good enough for our team to grow to Rs 3,500 crore in AUM," pointed out Deepak Jain, co-founder, FlexiLoans.The firm is actually targeting to pay out around Rs 5,000 crore in lendings in FY25.In the next 3-4 years, the firm might aim to go social, Jain mentioned. "Our team wish to do it at the right time when our experts attacked the appropriate measurements and also scale," he stated, adding that the provider has been profitable for the last 3 years as well as is targeting double-digit income in the present financial year and triple-digit profits in the upcoming fiscal year." Our credit report price is around 3.3 per-cent since the June quarter. Our team have actually regularly continued to be sub-5 per cent as far as credit scores expenses are worried," he pointed out.Unitus Capital functioned as the unique expert to the purchase.Heretofore sphere, the firm raised capital coming from Sanjay and Falguni Nayar, Maj Invest, Fasanara Funds, alongside other prominent household workplaces.Initial Published: Sep 11 2024|12:14 AM IST.