.2 min read through Last Upgraded: Sep 11 2024|12:14 AM IST.Digital borrowing system FlexiLoans has actually raised Rs 290 crore in Collection C funding coming from global and domestic clients, consisting of Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable organization, Nuveen, and existing entrepreneur Maj Invest.FlexiLoans, which lends to local business through a cash flow-based lending style, will make use of the clean funds to broaden its own procedures, enhance its own product offerings, and enhance its technical structure, the firm said in a launch.The fresh capital will definitely aid the company grow its resources under management (AUM) from Rs 2,000 crore currently to Rs 3,500 crore. To date, FlexiLoans has paid over Rs 7,000 crore in loans throughout more than 2,100 communities as well as urban areas.." While as an NBFC our experts will definitely maintain elevating funds as and when required, this financing needs to be good enough for us to increase to Rs 3,500 crore in AUM," said Deepak Jain, co-founder, FlexiLoans.The agency is actually targeting to pay around Rs 5,000 crore in financings in FY25.In the next 3-4 years, the business might look to go public, Jain claimed. "We intend to do it at the correct time when we hit the ideal size and range," he claimed, adding that the company has paid for the last 3 years and also is targeting double-digit revenue in the existing financial year and also triple-digit earnings in the upcoming fiscal year." Our credit cost is actually around 3.3 per-cent since the June one-fourth. We have actually always continued to be sub-5 percent as far as credit report expenses are involved," he stated.Unitus Financing functioned as the special consultant to the transaction.Heretofore sphere, the business raised funds coming from Sanjay as well as Falguni Nayar, Maj Invest, Fasanara Funds, together with other popular family workplaces.First Published: Sep 11 2024|12:14 AM IST.