.2 min read through Last Upgraded: Sep 11 2024|12:14 AM IST.Digital financing platform FlexiLoans has elevated Rs 290 crore in Collection C funding from worldwide and also residential capitalists, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, and also existing capitalist Maj Invest.FlexiLoans, which provides to small companies via a cash money flow-based loaning style, will certainly use the new capital to increase its own functions, improve its own product offerings, as well as strengthen its technological commercial infrastructure, the firm claimed in a release.The new capital will definitely help the business develop its possessions under control (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To day, FlexiLoans has actually disbursed over Rs 7,000 crore in financings all over much more than 2,100 towns as well as metropolitan areas.." While as an NBFC our experts will maintain elevating funds as and also when demanded, this funding should be good enough for our team to expand to Rs 3,500 crore in AUM," claimed Deepak Jain, founder, FlexiLoans.The firm is actually targeting to pay around Rs 5,000 crore in loans in FY25.In the upcoming 3-4 years, the business could seek to go social, Jain mentioned. "Our experts intend to perform it at the right time when we hit the right size as well as range," he claimed, adding that the business has been profitable for the last three years and is actually targeting double-digit earnings in the current financial year and triple-digit earnings in the following financial year." Our credit report expense is actually around 3.3 percent as of the June quarter. Our experts have constantly remained sub-5 percent as for debt prices are concerned," he claimed.Unitus Resources worked as the unique advisor to the transaction.Before this round, the firm increased funding coming from Sanjay and Falguni Nayar, Maj Invest, Fasanara Funding, along with other famous loved ones offices.First Published: Sep 11 2024|12:14 AM IST.