.2 min read through Last Updated: Sep 11 2024|12:14 AM IST.Digital borrowing system FlexiLoans has actually increased Rs 290 crore in Series C financing from worldwide as well as residential financiers, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, and also existing client Maj Invest.FlexiLoans, which offers to local business with a money flow-based loan model, will make use of the new funding to expand its procedures, boost its own product offerings, and strengthen its own technical structure, the provider pointed out in a release.The clean capital will definitely assist the business increase its properties under administration (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To day, FlexiLoans has paid over Rs 7,000 crore in lendings across greater than 2,100 communities as well as areas.." While as an NBFC we are going to always keep increasing funds as and also when needed, this capital ought to be good enough for our team to develop to Rs 3,500 crore in AUM," claimed Deepak Jain, co-founder, FlexiLoans.The agency is actually targeting to disburse around Rs 5,000 crore in loans in FY25.In the next 3-4 years, the company could hope to go public, Jain stated. "Our experts want to do it at the right time when we attacked the right size and also scale," he pointed out, incorporating that the firm has paid for the final 3 years as well as is targeting double-digit profit in the present financial year as well as triple-digit earnings in the next fiscal year." Our credit report expense is actually around 3.3 per-cent as of the June fourth. Our experts have regularly remained sub-5 per cent as far as credit history expenses are actually concerned," he mentioned.Unitus Financing acted as the special expert to the purchase.Heretofore sphere, the company raised funding coming from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Financing, together with other famous family workplaces.Very First Published: Sep 11 2024|12:14 AM IST.