.2 minutes read Last Upgraded: Sep 11 2024|12:14 AM IST.Digital lending platform FlexiLoans has raised Rs 290 crore in Set C backing from worldwide and also residential entrepreneurs, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, and also existing real estate investor Maj Invest.FlexiLoans, which offers to small businesses via a money flow-based finance design, are going to make use of the fresh financing to extend its own operations, enrich its own product offerings, and reinforce its own technical framework, the business stated in a release.The fresh capital will definitely help the company develop its assets under monitoring (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To date, FlexiLoans has disbursed over Rs 7,000 crore in lendings throughout greater than 2,100 cities and also areas.." While as an NBFC our company will keep elevating funds as and also when needed, this financing needs to do our company to grow to Rs 3,500 crore in AUM," pointed out Deepak Jain, founder, FlexiLoans.The agency is targeting to disburse around Rs 5,000 crore in car loans in FY25.In the following 3-4 years, the firm could want to go public, Jain said. "We would like to do it at the correct time when our experts reached the best size as well as scale," he stated, adding that the provider has actually paid for the last 3 years and also is targeting double-digit profit in the present financial year and also triple-digit revenues in the next fiscal year." Our credit score expense is actually around 3.3 per-cent as of the June quarter. We have actually consistently continued to be sub-5 percent as for debt expenses are worried," he stated.Unitus Funding acted as the special advisor to the deal.Before this round, the provider elevated funds coming from Sanjay and Falguni Nayar, Maj Invest, Fasanara Funds, in addition to other popular family members workplaces.Very First Published: Sep 11 2024|12:14 AM IST.