.2 minutes reviewed Final Improved: Sep 11 2024|12:14 AM IST.Digital finance system FlexiLoans has elevated Rs 290 crore in Collection C backing coming from global and also domestic clients, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, as well as existing client Maj Invest.FlexiLoans, which lends to small companies with a money flow-based financing style, will certainly make use of the new funds to increase its functions, enrich its product offerings, as well as boost its technical commercial infrastructure, the firm mentioned in a release.The clean funding will certainly help the business develop its properties under monitoring (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 around more than 2,100 towns and also areas.." While as an NBFC our company will definitely keep increasing funds as and when needed, this funding must do our team to increase to Rs 3,500 crore in AUM," stated Deepak Jain, co-founder, FlexiLoans.The agency is actually targeting to pay around Rs 5,000 crore in lendings in FY25.In the upcoming 3-4 years, the company could seek to go public, Jain said. "Our team would like to perform it at the correct time when we hit the appropriate dimension as well as range," he pointed out, incorporating that the firm has actually been profitable for the final 3 years and is targeting double-digit revenue in the existing financial year and triple-digit revenues in the upcoming fiscal year." Our credit history price is around 3.3 per-cent since the June one-fourth. Our team have consistently stayed sub-5 per-cent as far as debt costs are regarded," he pointed out.Unitus Resources acted as the unique specialist to the purchase.Heretofore sphere, the company raised financing coming from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Financing, along with other noticeable family offices.Very First Posted: Sep 11 2024|12:14 AM IST.