.2 minutes went through Last Upgraded: Sep 11 2024|12:14 AM IST.Digital loan system FlexiLoans has elevated Rs 290 crore in Set C backing coming from global as well as domestic entrepreneurs, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organisation, Nuveen, and also existing client Maj Invest.FlexiLoans, which offers to small businesses with a cash flow-based loan design, will use the new resources to expand its own operations, enrich its product offerings, and also boost its technological facilities, the business claimed in a launch.The fresh funds will certainly aid the company expand its own resources 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 finances across more than 2,100 cities and also metropolitan areas.." While as an NBFC our team will definitely always keep increasing funds as and also when demanded, this capital needs to be good enough for us to grow to Rs 3,500 crore in AUM," said Deepak Jain, co-founder, FlexiLoans.The company is targeting to pay out around Rs 5,000 crore in finances in FY25.In the upcoming 3-4 years, the provider might try to go social, Jain stated. "Our team desire to perform it at the correct time when our experts hit the right size and scale," he claimed, adding that the business has paid for the final 3 years and also is targeting double-digit profit in the existing financial year and triple-digit earnings in the upcoming financial year." Our credit score price is actually around 3.3 per-cent as of the June one-fourth. We have always stayed sub-5 per-cent regarding credit rating prices are involved," he claimed.Unitus Funds functioned as the unique specialist to the purchase.Heretofore around, the firm elevated capital coming from Sanjay and Falguni Nayar, Maj Invest, Fasanara Capital, together with various other noticeable family workplaces.1st Posted: Sep 11 2024|12:14 AM IST.