.2 min read through Last Improved: Sep 11 2024|12:14 AM IST.Digital lending system FlexiLoans has increased Rs 290 crore in Collection C backing coming from international and also residential investors, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organisation, Nuveen, and existing client Maj Invest.FlexiLoans, which provides to business with a cash money flow-based borrowing version, will certainly make use of the fresh funds to extend its functions, improve its item offerings, as well as strengthen its technical framework, the firm said in a launch.The new resources will help the company increase its assets under management (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has paid over Rs 7,000 crore in loans throughout more than 2,100 communities and areas.." While as an NBFC our company will always keep raising funds as and when required, this financing ought to be good enough for us to grow to Rs 3,500 crore in AUM," claimed Deepak Jain, co-founder, FlexiLoans.The company is actually targeting to pay around Rs 5,000 crore in loans in FY25.In the next 3-4 years, the business might hope to go public, Jain said. "Our team desire to do it at the right time when we attacked the appropriate dimension and also scale," he stated, including that the firm has actually paid for the last 3 years as well as is actually targeting double-digit revenue in the existing fiscal year and triple-digit profits in the following fiscal year." Our credit price is actually around 3.3 per-cent as of the June fourth. We have actually always remained sub-5 per-cent regarding credit history expenses are concerned," he said.Unitus Capital worked as the special specialist to the purchase.Before this sphere, the business increased financing coming from Sanjay and Falguni Nayar, Maj Invest, Fasanara Funding, together with various other popular loved ones offices.Initial Released: Sep 11 2024|12:14 AM IST.