.2 minutes read Last Updated: Sep 11 2024|12:14 AM IST.Digital loaning system FlexiLoans has increased Rs 290 crore in Series C financing from worldwide and domestic entrepreneurs, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable company, Nuveen, and also existing real estate investor Maj Invest.FlexiLoans, which provides to local business through a money flow-based financing model, are going to make use of the new financing to broaden its operations, boost its product offerings, as well as enhance its technological commercial infrastructure, the provider pointed out in a release.The new funds will certainly assist the company develop its own assets under management (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 fundings all over greater than 2,100 communities as well as metropolitan areas.." While as an NBFC our company are going to always keep increasing funds as and also when required, this funds should be good enough for our team to increase to Rs 3,500 crore in AUM," said Deepak Jain, co-founder, FlexiLoans.The agency is targeting to disburse around Rs 5,000 crore in fundings in FY25.In the next 3-4 years, the business may want to go social, Jain pointed out. "Our company intend to do it at the right time when our team attacked the right size and scale," he mentioned, incorporating that the provider has paid for the last 3 years and also is targeting double-digit income in the current financial year as well as triple-digit incomes in the upcoming financial year." Our credit price is around 3.3 per-cent since the June fourth. Our experts have actually regularly stayed sub-5 per cent regarding debt costs are actually concerned," he stated.Unitus Funds served as the special specialist to the deal.Heretofore sphere, the business raised funds coming from Sanjay and Falguni Nayar, Maj Invest, Fasanara Resources, alongside other prominent loved ones offices.1st Released: Sep 11 2024|12:14 AM IST.