.2 min reviewed Final Improved: Sep 11 2024|12:14 AM IST.Digital borrowing system FlexiLoans has increased Rs 290 crore in Set C financing from international as well as domestic entrepreneurs, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organization, Nuveen, and existing entrepreneur Maj Invest.FlexiLoans, which lends to business through a money flow-based borrowing style, will utilize the fresh capital to increase its procedures, enrich its own product offerings, as well as reinforce its technological facilities, the company claimed in a release.The fresh funds will help the provider develop its own properties under management (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To date, FlexiLoans has disbursed over Rs 7,000 crore in loans across greater than 2,100 communities and also urban areas.." While as an NBFC our company will definitely always keep increasing funds as and when required, this funds ought to do our company to grow to Rs 3,500 crore in AUM," mentioned Deepak Jain, co-founder, FlexiLoans.The company is actually targeting to pay around Rs 5,000 crore in fundings in FY25.In the upcoming 3-4 years, the company might want to go social, Jain said. "Our experts would like to do it at the correct time when we struck the appropriate dimension as well as range," he pointed out, including that the business has been profitable for the final 3 years and also is targeting double-digit earnings in the current financial year and also triple-digit earnings in the following financial year." Our credit expense is around 3.3 per cent as of the June one-fourth. Our company have always stayed sub-5 percent as far as credit rating expenses are actually regarded," he stated.Unitus Resources worked as the special advisor to the transaction.Heretofore round, the business raised financing coming from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Capital, in addition to other noticeable loved ones workplaces.First Posted: Sep 11 2024|12:14 AM IST.