.2 min read through Final Upgraded: Sep 11 2024|12:14 AM IST.Digital lending system FlexiLoans has actually increased Rs 290 crore in Collection C backing coming from international and also residential entrepreneurs, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit company, Nuveen, and also existing capitalist Maj Invest.FlexiLoans, which provides to business by means of a cash flow-based borrowing model, will utilize the fresh funds to increase its own functions, improve its item offerings, and enhance its own technological facilities, the business claimed in a launch.The fresh funds will definitely aid the business increase its own resources under management (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has actually paid out over Rs 7,000 crore in finances all over greater than 2,100 cities and also areas.." While as an NBFC we will certainly maintain raising funds as and when called for, this funds must do our team to develop to Rs 3,500 crore in AUM," mentioned Deepak Jain, co-founder, FlexiLoans.The organization is targeting to pay out around Rs 5,000 crore in loans in FY25.In the upcoming 3-4 years, the company may hope to go public, Jain mentioned. "Our experts want to perform it at the correct time when our team struck the appropriate dimension and scale," he claimed, including that the firm has actually been profitable for the last three years as well as is actually targeting double-digit profit in the current fiscal year and also triple-digit earnings in the upcoming fiscal year." Our debt expense is around 3.3 percent as of the June fourth. Our experts have consistently stayed sub-5 percent as for debt costs are actually regarded," he claimed.Unitus Resources acted as the unique consultant to the deal.Before this round, the business increased capital coming from Sanjay and Falguni Nayar, Maj Invest, Fasanara Funds, alongside various other famous household offices.1st Posted: Sep 11 2024|12:14 AM IST.