Debt Debt financing
MSME-focused lender FlexiLoans raises $9-M from JM Financial
Mumbai-based MSME-focused lender FlexiLoans has raised INR 75 crore (around USD 9 million) from JM Financial by issuing 7,500 non-convertible debentures. The debt is provided at 12.05% per annum with a tenure of 24 months. The company intends to use the funds for its ongoing business operations. Founded by Deepak Jain, Manish Lunia, Ritesh Jain, and Abhishek Kothari, FlexiLoans offers collateral-free loans to MSMEs.
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Between Oct 2020 and June 2022, FlexiLOans had raised USD 48 million from Falguni and Sanjay Nayar Family Office, Maj Invest and others.