.2 min read through Final Updated: Sep 11 2024|12:14 AM IST.Digital lending system FlexiLoans has increased Rs 290 crore in Series C financing from global as well as residential entrepreneurs, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, and also existing capitalist Maj Invest.FlexiLoans, which lends to business through a cash money flow-based loan style, will definitely make use of the new funds to grow its operations, enhance its own item offerings, as well as reinforce its own technological framework, the provider claimed in a launch.The clean funds is going to assist the firm expand its possessions under control (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has paid over Rs 7,000 crore in car loans all over more than 2,100 towns as well as cities.." While as an NBFC our experts are going to always keep elevating funds as and also when called for, this financing needs to do us to increase to Rs 3,500 crore in AUM," mentioned Deepak Jain, co-founder, FlexiLoans.The firm is actually targeting to pay out around Rs 5,000 crore in fundings in FY25.In the next 3-4 years, the firm might want to go public, Jain pointed out. "Our company would like to do it at the right time when our team hit the best size and scale," he stated, incorporating that the business has actually paid for the last 3 years and is targeting double-digit profit in the present fiscal year and triple-digit earnings in the upcoming fiscal year." Our credit history cost is actually around 3.3 per cent as of the June fourth. We have actually consistently continued to be sub-5 per cent as far as credit rating expenses are regarded," he stated.Unitus Funding functioned as the exclusive consultant to the purchase.Heretofore sphere, the firm increased financing coming from Sanjay and Falguni Nayar, Maj Invest, Fasanara Funds, together with other prominent household offices.1st Published: Sep 11 2024|12:14 AM IST.