.2 min reviewed Final Updated: Sep 11 2024|12:14 AM IST.Digital loan system FlexiLoans has elevated Rs 290 crore in Series C financing from global as well as domestic clients, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organisation, Nuveen, as well as existing client Maj Invest.FlexiLoans, which provides to small companies with a cash money flow-based borrowing design, are going to make use of the clean financing to grow its operations, enhance its item offerings, and also enhance its technical facilities, the company mentioned in a launch.The new financing is going to help the company grow its properties under control (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To day, FlexiLoans has actually paid out over Rs 7,000 crore in car loans across greater than 2,100 cities and metropolitan areas.." While as an NBFC our team will definitely always keep raising funds as and when demanded, this financing must do our company to grow to Rs 3,500 crore in AUM," pointed out Deepak Jain, co-founder, FlexiLoans.The organization is actually targeting to disburse around Rs 5,000 crore in lendings in FY25.In the next 3-4 years, the business could want to go social, Jain stated. "Our experts want to perform it at the correct time when we attacked the correct dimension and also range," he mentioned, incorporating that the company has actually paid for the final three years and also is targeting double-digit earnings in the existing fiscal year as well as triple-digit profits in the upcoming fiscal year." Our debt expense is around 3.3 percent as of the June quarter. Our team have regularly stayed sub-5 percent regarding credit report prices are regarded," he pointed out.Unitus Financing served as the special consultant to the transaction.Before this sphere, the company elevated resources from Sanjay and Falguni Nayar, Maj Invest, Fasanara Resources, together with other popular household workplaces.First Published: Sep 11 2024|12:14 AM IST.