.2 min read through Last Upgraded: Sep 11 2024|12:14 AM IST.Digital finance platform FlexiLoans has increased Rs 290 crore in Series C financing from global and residential investors, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organization, Nuveen, and existing entrepreneur Maj Invest.FlexiLoans, which offers to business by means of a cash money flow-based finance design, will certainly make use of the fresh funds to extend its procedures, enrich its product offerings, as well as boost its own technical facilities, the business pointed out in a release.The fresh funding is going to assist the business grow its own properties under monitoring (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To date, FlexiLoans has disbursed over Rs 7,000 crore in car loans throughout much more than 2,100 cities and also urban areas.." While as an NBFC our team will definitely always keep elevating funds as and when called for, this funds should do our company to develop to Rs 3,500 crore in AUM," pointed out Deepak Jain, founder, FlexiLoans.The firm is actually targeting to disburse around Rs 5,000 crore in loans in FY25.In the following 3-4 years, the business could aim to go social, Jain stated. "We intend to perform it at the correct time when our company hit the right measurements and scale," he stated, incorporating that the company has paid for the final 3 years and is targeting double-digit revenue in the present fiscal year and triple-digit profits in the upcoming financial year." Our credit price is around 3.3 per cent since the June fourth. We have actually always remained sub-5 percent regarding credit history prices are actually regarded," he claimed.Unitus Funding served as the exclusive advisor to the deal.Heretofore sphere, the business increased funds from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Funding, alongside other popular family workplaces.1st Published: Sep 11 2024|12:14 AM IST.