.2 minutes reviewed Final Upgraded: Sep 11 2024|12:14 AM IST.Digital financing system FlexiLoans has increased Rs 290 crore in Series C funding from global and also residential capitalists, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit company, Nuveen, and existing capitalist Maj Invest.FlexiLoans, which offers to business through a cash money flow-based loan model, will make use of the clean funding to expand its functions, enrich its item offerings, and reinforce its technological structure, the provider said in a release.The fresh funds will certainly help the firm expand its own properties under management (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has paid out over Rs 7,000 crore in fundings all over more than 2,100 cities and also areas.." While as an NBFC our company are going to always keep elevating funds as and when needed, this funds ought to do our company to increase to Rs 3,500 crore in AUM," stated Deepak Jain, co-founder, FlexiLoans.The organization is actually targeting to pay around Rs 5,000 crore in car loans in FY25.In the following 3-4 years, the company could aim to go public, Jain pointed out. "We want to do it at the right time when our team attacked the best dimension as well as range," he stated, adding that the provider has actually been profitable for the final 3 years as well as is actually targeting double-digit revenue in the existing fiscal year and also triple-digit profits in the following fiscal year." Our credit report cost is around 3.3 per-cent since the June one-fourth. We have actually consistently remained sub-5 per-cent as far as credit rating expenses are concerned," he pointed out.Unitus Capital worked as the special consultant to the purchase.Heretofore around, the provider raised funding coming from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Capital, along with various other popular household workplaces.First Posted: Sep 11 2024|12:14 AM IST.