.2 min read through Last Improved: Sep 11 2024|12:14 AM IST.Digital lending system FlexiLoans has actually raised Rs 290 crore in Collection C backing from international as well as domestic investors, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organisation, Nuveen, as well as existing client Maj Invest.FlexiLoans, which provides to business via a cash flow-based finance model, are going to make use of the clean funds to increase its operations, enhance its product offerings, as well as strengthen its technical infrastructure, the company mentioned in a release.The new resources will help the company develop its own possessions under management (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To date, FlexiLoans has actually paid over Rs 7,000 crore in financings around greater than 2,100 cities and urban areas.." While as an NBFC we will definitely maintain raising funds as and when demanded, this financing must do our team to expand to Rs 3,500 crore in AUM," pointed out Deepak Jain, founder, FlexiLoans.The firm is targeting to disburse around Rs 5,000 crore in finances in FY25.In the following 3-4 years, the firm might seek to go social, Jain pointed out. "Our company want to do it at the right time when our team reached the best measurements and range," he pointed out, adding that the company has actually paid for the last three years and also is targeting double-digit revenue in the present financial year as well as triple-digit profits in the following financial year." Our credit report expense is actually around 3.3 per-cent since the June one-fourth. Our company have always continued to be sub-5 per cent as for credit rating expenses are concerned," he said.Unitus Funding served as the unique expert to the purchase.Heretofore around, the business raised capital from Sanjay and Falguni Nayar, Maj Invest, Fasanara Resources, in addition to various other popular loved ones offices.Very First Posted: Sep 11 2024|12:14 AM IST.