.2 min reviewed Last Updated: Sep 11 2024|12:14 AM IST.Digital finance platform FlexiLoans has actually raised Rs 290 crore in Set C backing from worldwide as well as domestic capitalists, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit company, Nuveen, and also existing investor Maj Invest.FlexiLoans, which provides to local business by means of a money flow-based borrowing model, will use the new capital to broaden its own operations, enrich its own product offerings, and enhance its own technical commercial infrastructure, the business mentioned in a release.The new funding will definitely aid the business grow its own assets under management (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To day, FlexiLoans has paid out over Rs 7,000 crore in car loans throughout much more than 2,100 communities and areas.." While as an NBFC our team will certainly keep raising funds as and when required, this funds must do our company to develop to Rs 3,500 crore in AUM," mentioned Deepak Jain, founder, FlexiLoans.The company is actually targeting to pay around Rs 5,000 crore in loans in FY25.In the upcoming 3-4 years, the firm might look to go social, Jain stated. "Our experts want to do it at the correct time when our experts attacked the correct measurements and range," he pointed out, incorporating that the company has actually been profitable for the final 3 years and is actually targeting double-digit profit in the current financial year as well as triple-digit revenues in the following financial year." Our credit price is around 3.3 percent since the June quarter. We have actually constantly continued to be sub-5 per-cent as far as credit score prices are actually worried," he stated.Unitus Funds functioned as the special consultant to the purchase.Heretofore round, the firm elevated capital coming from Sanjay and Falguni Nayar, Maj Invest, Fasanara Capital, in addition to other noticeable loved ones offices.Initial Published: Sep 11 2024|12:14 AM IST.