.2 min reviewed Last Improved: Sep 11 2024|12:14 AM IST.Digital finance platform FlexiLoans has actually elevated Rs 290 crore in Collection C financing coming from worldwide and residential clients, including Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit organization, Nuveen, and existing real estate investor Maj Invest.FlexiLoans, which lends to local business with a cash flow-based financing design, will utilize the fresh funds to expand its own operations, enrich its item offerings, and also strengthen its technological facilities, the provider mentioned in a launch.The fresh resources will definitely help the business increase its possessions under control (AUM) from Rs 2,000 crore presently to Rs 3,500 crore. To day, FlexiLoans has actually paid over Rs 7,000 crore in car loans across much more than 2,100 towns as well as areas.." While as an NBFC we are going to keep raising funds as and also when called for, this financing needs to be good enough for our company to expand to Rs 3,500 crore in AUM," said Deepak Jain, founder, FlexiLoans.The company is actually targeting to pay out around Rs 5,000 crore in car loans in FY25.In the upcoming 3-4 years, the firm might hope to go public, Jain stated. "Our experts would like to perform it at the correct time when our company attacked the correct size and also scale," he mentioned, adding that the company has been profitable for the final 3 years as well as is targeting double-digit profit in the existing fiscal year as well as triple-digit revenues in the next fiscal year." Our credit report expense is actually around 3.3 per cent since the June fourth. Our experts have always remained sub-5 per-cent as for credit report costs are involved," he said.Unitus Financing functioned as the unique consultant to the transaction.Heretofore sphere, the provider increased resources from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Funding, alongside other popular loved ones workplaces.First Published: Sep 11 2024|12:14 AM IST.