.2 minutes reviewed Last Updated: Sep 11 2024|12:14 AM IST.Digital financing system FlexiLoans has actually increased Rs 290 crore in Series C funding from worldwide as well as residential entrepreneurs, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organisation, Nuveen, and also existing real estate investor Maj Invest.FlexiLoans, which offers to local business through a cash money flow-based finance style, are going to utilize the new funding to grow its functions, enrich its item offerings, and also boost its technological infrastructure, the firm said in a launch.The fresh funding will help the firm increase its own possessions under administration (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To time, FlexiLoans has paid over Rs 7,000 crore in lendings all over greater than 2,100 cities and areas.." While as an NBFC our company are going to maintain raising funds as and also when called for, this capital should do us to increase to Rs 3,500 crore in AUM," mentioned Deepak Jain, co-founder, FlexiLoans.The firm is actually targeting to disburse around Rs 5,000 crore in car loans in FY25.In the following 3-4 years, the provider might want to go public, Jain mentioned. "We would like to perform it at the right time when our company struck the right measurements and also scale," he said, including that the company has actually paid for the last 3 years as well as is actually targeting double-digit revenue in the existing fiscal year and also triple-digit earnings in the upcoming fiscal year." Our credit score cost is actually around 3.3 per-cent since the June quarter. Our experts have actually always remained sub-5 percent as far as debt costs are worried," he claimed.Unitus Funding functioned as the special advisor to the transaction.Before this round, the company increased funding coming from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Funding, in addition to various other prominent family members offices.Initial Posted: Sep 11 2024|12:14 AM IST.