.2 min checked out Final Updated: Sep 11 2024|12:14 AM IST.Digital financing platform FlexiLoans has elevated Rs 290 crore in Series C funding from worldwide and residential clients, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organisation, Nuveen, and existing capitalist Maj Invest.FlexiLoans, which offers to small businesses through a money flow-based financing version, will certainly make use of the new capital to grow its operations, enrich its own item offerings, and strengthen its own technical facilities, the business pointed out in a release.The fresh funds will definitely assist the firm increase its possessions under monitoring (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To time, FlexiLoans has disbursed over Rs 7,000 crore in finances across greater than 2,100 cities and also metropolitan areas.." While as an NBFC our team will definitely keep raising funds as and also when demanded, this resources ought to do our company to develop to Rs 3,500 crore in AUM," pointed out Deepak Jain, founder, FlexiLoans.The company is targeting to pay out around Rs 5,000 crore in finances in FY25.In the upcoming 3-4 years, the provider might seek to go public, Jain stated. "Our team would like to do it at the right time when our company hit the best size and scale," he mentioned, incorporating that the company has been profitable for the last three years and also is actually targeting double-digit profit in the present financial year as well as triple-digit earnings in the next fiscal year." Our credit cost is around 3.3 percent since the June quarter. We have constantly remained sub-5 per cent as far as credit scores prices are worried," he stated.Unitus Funding worked as the special expert to the purchase.Before this round, the company elevated resources coming from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Funds, alongside various other noticeable family workplaces.1st Released: Sep 11 2024|12:14 AM IST.