.2 min went through Last Improved: Sep 11 2024|12:14 AM IST.Digital lender platform FlexiLoans has actually increased Rs 290 crore in Series C funding from international and also domestic investors, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, and existing entrepreneur Maj Invest.FlexiLoans, which gives to local business with a cash flow-based lending version, will make use of the clean capital to broaden its own procedures, improve its own item offerings, and also strengthen its own technological infrastructure, the firm claimed in a release.The fresh funds is going to help the company increase its possessions under administration (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To day, FlexiLoans has paid over Rs 7,000 crore in finances all over much more than 2,100 communities and also metropolitan areas.." While as an NBFC our experts will definitely keep raising funds as and also when demanded, this resources ought to be good enough for our team to grow to Rs 3,500 crore in AUM," pointed out Deepak Jain, founder, FlexiLoans.The organization is actually targeting to disburse around Rs 5,000 crore in fundings in FY25.In the following 3-4 years, the firm may aim to go social, Jain mentioned. "Our team desire to perform it at the right time when our experts hit the ideal dimension and range," he stated, adding that the business has paid for the last three years and also is actually targeting double-digit profit in the existing financial year and also triple-digit earnings in the following fiscal year." Our credit scores price is actually around 3.3 per-cent since the June quarter. Our company have consistently continued to be sub-5 percent as far as credit history prices are regarded," he mentioned.Unitus Financing acted as the exclusive consultant to the deal.Heretofore around, the company increased funds from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Financing, alongside various other famous family members workplaces.First Published: Sep 11 2024|12:14 AM IST.