.2 min went through Final Improved: Sep 11 2024|12:14 AM IST.Digital lending platform FlexiLoans has actually elevated Rs 290 crore in Set C backing coming from international as well as residential investors, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organisation, Nuveen, as well as existing client Maj Invest.FlexiLoans, which lends to local business through a cash flow-based loaning model, will definitely utilize the clean funds to grow its operations, enhance its item offerings, and also enhance its technological framework, the company pointed out in a release.The new funds will help the provider grow its own assets under management (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To date, FlexiLoans has paid out over Rs 7,000 crore in loans around more than 2,100 cities and metropolitan areas.." While as an NBFC we will maintain raising funds as and when required, this funding should do our company to grow to Rs 3,500 crore in AUM," mentioned Deepak Jain, co-founder, FlexiLoans.The agency 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 public, Jain pointed out. "Our company would like to perform it at the correct time when our company reached the best measurements and range," he mentioned, incorporating that the business has actually paid for the final three years as well as is targeting double-digit profit in the current fiscal year and triple-digit revenues in the following financial year." Our credit scores expense is actually around 3.3 percent since the June one-fourth. Our experts have actually constantly remained sub-5 per cent as far as credit prices are involved," he mentioned.Unitus Funds served as the special consultant to the transaction.Heretofore round, the firm raised capital coming from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Capital, together with various other prominent household offices.Very First Posted: Sep 11 2024|12:14 AM IST.