.2 minutes reviewed Last Improved: Sep 11 2024|12:14 AM IST.Digital finance system FlexiLoans has actually elevated Rs 290 crore in Series C backing coming from international and residential financiers, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organisation, Nuveen, as well as existing financier Maj Invest.FlexiLoans, which gives to small businesses via a cash money flow-based borrowing design, are going to make use of the clean resources to increase its own procedures, enrich its own product offerings, and also boost its technical framework, the company stated in a release.The new capital is going to assist the company increase its resources under monitoring (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To day, FlexiLoans has disbursed over Rs 7,000 crore in financings across much more than 2,100 communities and also urban areas.." While as an NBFC we will definitely always keep elevating funds as and also when demanded, this capital should do our team to increase to Rs 3,500 crore in AUM," claimed Deepak Jain, co-founder, FlexiLoans.The firm is actually targeting to disburse around Rs 5,000 crore in lendings in FY25.In the upcoming 3-4 years, the business could hope to go public, Jain said. "Our team wish to do it at the right time when our team reached the ideal measurements and also range," he mentioned, adding that the provider has actually paid for the last 3 years and is actually targeting double-digit income in the existing financial year as well as triple-digit earnings in the next financial year." Our credit history expense is actually around 3.3 per-cent since the June quarter. Our experts have constantly remained sub-5 percent as far as credit scores costs are worried," he claimed.Unitus Funding served as the unique expert to the transaction.Before this round, the company raised financing from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Financing, in addition to other prominent loved ones offices.Initial Posted: Sep 11 2024|12:14 AM IST.