.2 minutes went through Last Upgraded: Sep 11 2024|12:14 AM IST.Digital lending system FlexiLoans has raised Rs 290 crore in Collection C funding from global as well as domestic investors, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit company, Nuveen, and existing entrepreneur Maj Invest.FlexiLoans, which provides to small companies with a money flow-based lender design, are going to utilize the new funds to grow its own operations, enrich its own product offerings, as well as enhance its own technological facilities, the provider said in a launch.The new resources will definitely aid the company expand its resources under control (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To date, FlexiLoans has paid out over Rs 7,000 crore in lendings throughout greater than 2,100 towns and areas.." While as an NBFC we will certainly always keep raising funds as and when needed, this funds must do our company to develop to Rs 3,500 crore in AUM," claimed Deepak Jain, co-founder, FlexiLoans.The company is targeting to disburse around Rs 5,000 crore in car loans in FY25.In the upcoming 3-4 years, the business might seek to go social, Jain claimed. "Our team want to do it at the right time when our company reached the correct size and also scale," he said, including that the business has been profitable for the last three years as well as is targeting double-digit income in the existing financial year and also triple-digit incomes in the next fiscal year." Our debt expense is around 3.3 percent since the June one-fourth. We have always continued to be sub-5 per-cent as far as credit history expenses are concerned," he mentioned.Unitus Financing functioned as the unique expert to the deal.Heretofore sphere, the firm increased funds coming from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Financing, alongside various other popular family members workplaces.First Released: Sep 11 2024|12:14 AM IST.