.2 min reviewed Final Improved: Sep 11 2024|12:14 AM IST.Digital borrowing system FlexiLoans has increased Rs 290 crore in Set C financing from international and residential investors, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit company, Nuveen, and also existing investor Maj Invest.FlexiLoans, which offers to small companies through a money flow-based lending style, will certainly use the new resources to increase its procedures, boost its own item offerings, and reinforce its own technical structure, the business claimed in a release.The new funding will definitely help the company expand its resources under administration (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To day, FlexiLoans has paid over Rs 7,000 crore in car loans throughout more than 2,100 cities as well as cities.." While as an NBFC our company will certainly always keep raising funds as and also when required, this resources ought to be good enough for our company to grow to Rs 3,500 crore in AUM," said Deepak Jain, founder, FlexiLoans.The organization is targeting to pay out around Rs 5,000 crore in financings in FY25.In the next 3-4 years, the firm might try to go public, Jain claimed. "We desire to do it at the right time when our company hit the right size as well as range," he pointed out, incorporating that the company has been profitable for the final 3 years and also is actually targeting double-digit profit in the present fiscal year and triple-digit revenues in the next financial year." Our credit history cost is actually around 3.3 per-cent since the June quarter. We have actually constantly remained sub-5 percent as for credit rating costs are actually worried," he stated.Unitus Capital functioned as the special specialist to the transaction.Heretofore around, the firm raised funds coming from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Capital, in addition to other noticeable household offices.Initial Published: Sep 11 2024|12:14 AM IST.