.2 minutes read Last Updated: Sep 11 2024|12:14 AM IST.Digital borrowing system FlexiLoans has actually raised Rs 290 crore in Collection C funding coming from international and also domestic entrepreneurs, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organisation, Nuveen, and also existing client Maj Invest.FlexiLoans, which lends to business with a cash flow-based loaning model, are going to use the fresh resources to extend its own procedures, enrich its own product offerings, and also enhance its own technological framework, the company stated in a release.The clean financing is going to assist the provider expand its own possessions under administration (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To time, FlexiLoans has paid over Rs 7,000 crore in car loans across greater than 2,100 towns and also areas.." While as an NBFC our company will definitely keep increasing funds as and when demanded, this capital needs to be good enough for us to develop to Rs 3,500 crore in AUM," claimed Deepak Jain, co-founder, FlexiLoans.The organization is actually targeting to disburse around Rs 5,000 crore in loans in FY25.In the next 3-4 years, the business may aim to go public, Jain stated. "Our company desire to perform it at the correct time when our experts attacked the best measurements and scale," he stated, adding that the firm has actually been profitable for the last 3 years and is targeting double-digit income in the existing financial year and also triple-digit revenues in the following financial year." Our credit expense is actually around 3.3 percent as of the June one-fourth. Our team have always stayed sub-5 per cent regarding credit prices are actually worried," he stated.Unitus Capital functioned as the special expert to the transaction.Heretofore around, the business raised financing from Sanjay and Falguni Nayar, Maj Invest, Fasanara Funding, in addition to various other prominent household offices.Initial Released: Sep 11 2024|12:14 AM IST.