.2 min read through Final Updated: Sep 11 2024|12:14 AM IST.Digital lending platform FlexiLoans has increased Rs 290 crore in Series C funding from global and residential clients, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit company, Nuveen, and existing client Maj Invest.FlexiLoans, which provides to small businesses through a cash money flow-based loan style, will definitely use the clean funds to increase its own procedures, improve its product offerings, and also strengthen its own technological structure, the firm said in a launch.The clean financing will help the company develop its possessions under management (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has paid over Rs 7,000 crore in lendings across more than 2,100 cities and also cities.." While as an NBFC our experts will maintain increasing funds as and when required, this resources must be good enough for our team to increase to Rs 3,500 crore in AUM," mentioned Deepak Jain, founder, FlexiLoans.The firm is actually targeting to pay out around Rs 5,000 crore in lendings in FY25.In the next 3-4 years, the provider might want to go social, Jain claimed. "Our company would like to do it at the correct time when our experts attacked the best measurements as well as range," he pointed out, incorporating that the business has paid for the final 3 years and also is targeting double-digit earnings in the present financial year as well as triple-digit incomes in the next financial year." Our credit report expense is actually around 3.3 per-cent as of the June fourth. Our team have constantly stayed sub-5 per-cent as far as credit report prices are actually worried," he mentioned.Unitus Funds functioned as the unique consultant to the purchase.Before this round, the firm raised financing from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Funding, alongside various other popular loved ones workplaces.Initial Posted: Sep 11 2024|12:14 AM IST.