.2 minutes read through Last Upgraded: Sep 11 2024|12:14 AM IST.Digital lender system FlexiLoans has actually raised Rs 290 crore in Series C funding coming from international and also residential capitalists, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, and existing real estate investor Maj Invest.FlexiLoans, which lends to local business via a cash money flow-based finance style, will make use of the clean financing to increase its own operations, enrich its own product offerings, as well as enhance its own technical framework, the firm mentioned in a release.The new financing will assist the firm increase its properties under management (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has actually disbursed over Rs 7,000 crore in car loans all over more than 2,100 communities as well as cities.." While as an NBFC our experts will maintain increasing funds as and also when demanded, this financing should do our team to grow to Rs 3,500 crore in AUM," stated Deepak Jain, founder, FlexiLoans.The agency is actually targeting to pay out around Rs 5,000 crore in car loans in FY25.In the next 3-4 years, the company may seek to go social, Jain said. "Our experts wish to do it at the right time when our company attacked the ideal size and also range," he claimed, including that the firm has been profitable for the final 3 years as well as is actually targeting double-digit revenue in the present fiscal year and also triple-digit profits in the following financial year." Our credit report cost is actually around 3.3 per cent since the June quarter. Our company have actually consistently continued to be sub-5 per-cent as far as credit report costs are concerned," he pointed out.Unitus Capital worked as the exclusive specialist to the transaction.Heretofore sphere, the business elevated funding coming from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Resources, together with other famous household workplaces.First Published: Sep 11 2024|12:14 AM IST.