.2 min checked out Last Upgraded: Sep 11 2024|12:14 AM IST.Digital borrowing system FlexiLoans has raised Rs 290 crore in Series C funding coming from worldwide and also residential clients, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organization, Nuveen, and existing real estate investor Maj Invest.FlexiLoans, which offers to small companies via a cash money flow-based lender model, will definitely use the fresh funding to broaden its operations, enrich its own product offerings, as well as enhance its technological commercial infrastructure, the firm pointed out in a release.The new capital will definitely help the business develop its assets under management (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To day, FlexiLoans has actually disbursed over Rs 7,000 crore in lendings across much more than 2,100 cities and also areas.." While as an NBFC our team will certainly keep elevating funds as and when demanded, this funds needs to be good enough for our company to increase to Rs 3,500 crore in AUM," mentioned Deepak Jain, co-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 firm could aim to go social, Jain pointed out. "Our team want to perform it at the correct time when we attacked the correct measurements and also range," he pointed out, including that the business has actually been profitable for the final three years and also is targeting double-digit income in the existing fiscal year as well as triple-digit incomes in the next financial year." Our credit report expense is around 3.3 per-cent since the June one-fourth. We have constantly stayed sub-5 per cent as far as credit history prices are involved," he claimed.Unitus Financing acted as the special specialist to the transaction.Heretofore round, the business elevated capital coming from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Funding, along with various other popular household workplaces.First Published: Sep 11 2024|12:14 AM IST.