.2 minutes read Last Upgraded: Sep 11 2024|12:14 AM IST.Digital loan system FlexiLoans has increased Rs 290 crore in Series C backing from international and also residential real estate investors, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organisation, Nuveen, and also existing investor Maj Invest.FlexiLoans, which gives to small companies with a cash flow-based loan version, will certainly make use of the fresh capital to increase its procedures, improve its product offerings, and also reinforce its own technological framework, the firm stated in a release.The new funds will aid the company develop its assets under management (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To date, FlexiLoans has paid over Rs 7,000 crore in car loans all over more than 2,100 towns and metropolitan areas.." While as an NBFC we will certainly always keep raising funds as and also when called for, this funds must be good enough for us to expand to Rs 3,500 crore in AUM," said Deepak Jain, founder, FlexiLoans.The agency is targeting to pay out around Rs 5,000 crore in loans in FY25.In the next 3-4 years, the business might aim to go public, Jain said. "Our company wish to perform it at the right time when our company reached the appropriate measurements and scale," he said, incorporating that the company has actually paid for the final three years and also is targeting double-digit earnings in the present fiscal year as well as triple-digit incomes in the following financial year." Our credit history expense is actually around 3.3 percent since the June one-fourth. Our company have consistently continued to be sub-5 percent as far as credit report expenses are worried," he pointed out.Unitus Funds served as the unique expert to the purchase.Before this sphere, the provider raised financing from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Funds, together with various other famous family offices.1st Posted: Sep 11 2024|12:14 AM IST.