.2 min checked out Final Upgraded: Sep 11 2024|12:14 AM IST.Digital financing system FlexiLoans has actually increased Rs 290 crore in Series C funding from global and also domestic capitalists, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organisation, Nuveen, as well as existing financier Maj Invest.FlexiLoans, which lends to business through a cash money flow-based financing version, will definitely use the fresh capital to grow its own operations, improve its own product offerings, and also strengthen its technical facilities, the firm pointed out in a launch.The fresh resources will definitely help the firm develop its resources under management (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To date, FlexiLoans has paid out over Rs 7,000 crore in lendings throughout much more than 2,100 communities and areas.." While as an NBFC we will certainly maintain raising funds as and when demanded, this funding needs to do our team to increase to Rs 3,500 crore in AUM," said Deepak Jain, founder, FlexiLoans.The firm is actually targeting to pay out around Rs 5,000 crore in finances in FY25.In the next 3-4 years, the business could try to go social, Jain said. "Our company intend to perform it at the right time when we attacked the appropriate dimension and also scale," he pointed out, adding that the business has actually been profitable for the final three years and is actually targeting double-digit profit in the current financial year and triple-digit profits in the following fiscal year." Our credit history cost is around 3.3 per-cent as of the June fourth. We have always stayed sub-5 per cent as for credit prices are regarded," he mentioned.Unitus Financing served as the special specialist to the deal.Heretofore round, the firm increased resources from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Resources, alongside other prominent family workplaces.Very First Published: Sep 11 2024|12:14 AM IST.