.2 minutes read Last Improved: Sep 11 2024|12:14 AM IST.Digital borrowing system FlexiLoans has actually raised Rs 290 crore in Collection C financing from worldwide as well as residential financiers, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organization, Nuveen, and also existing investor Maj Invest.FlexiLoans, which gives to business via a cash money flow-based lending version, are going to make use of the new funds to grow its procedures, boost its product offerings, and also reinforce its own technical commercial infrastructure, the provider mentioned in a release.The clean capital will assist the business increase its properties under administration (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To day, FlexiLoans has disbursed over Rs 7,000 crore in car loans around much more than 2,100 communities and urban areas.." While as an NBFC our experts will definitely always keep increasing funds as and also when demanded, this funds should do our company to develop to Rs 3,500 crore in AUM," mentioned Deepak Jain, founder, FlexiLoans.The agency is targeting to pay out around Rs 5,000 crore in lendings in FY25.In the upcoming 3-4 years, the business might look to go social, Jain claimed. "Our company wish to do it at the correct time when our team reached the right dimension and range," he said, including that the firm has been profitable for the final three years as well as is actually targeting double-digit income in the current financial year and triple-digit revenues in the next fiscal year." Our credit history cost is actually around 3.3 per-cent since the June quarter. Our company have actually consistently remained sub-5 per cent regarding credit costs are worried," he claimed.Unitus Funds served as the exclusive consultant to the transaction.Heretofore around, the provider raised financing coming from Sanjay and Falguni Nayar, Maj Invest, Fasanara Resources, alongside other popular family offices.Initial Released: Sep 11 2024|12:14 AM IST.