.2 min read through Last Upgraded: Sep 11 2024|12:14 AM IST.Digital lending system FlexiLoans has actually increased Rs 290 crore in Set C financing coming from worldwide as well as residential entrepreneurs, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organisation, Nuveen, and also existing client Maj Invest.FlexiLoans, which offers to small businesses by means of a cash flow-based loaning model, will definitely make use of the new resources to broaden its own operations, boost its product offerings, and boost its technical facilities, the firm mentioned in a release.The fresh resources is going to aid the firm expand its properties under management (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has paid out over Rs 7,000 crore in financings around much more than 2,100 communities and cities.." While as an NBFC we are going to keep increasing funds as and when demanded, this funds must be good enough for our company to grow to Rs 3,500 crore in AUM," claimed Deepak Jain, co-founder, FlexiLoans.The company is actually targeting to pay out around Rs 5,000 crore in loans in FY25.In the following 3-4 years, the provider might hope to go social, Jain said. "Our experts desire to do it at the correct time when our team attacked the appropriate dimension as well as scale," he stated, incorporating that the company has been profitable for the last 3 years and is targeting double-digit income in the current financial year as well as triple-digit revenues in the upcoming fiscal year." Our credit cost is around 3.3 percent since the June one-fourth. We have constantly stayed sub-5 percent regarding credit rating prices are concerned," he stated.Unitus Funding served as the exclusive advisor to the deal.Heretofore around, the provider increased funding from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Capital, along with various other famous household offices.First Published: Sep 11 2024|12:14 AM IST.