PE Fund Investments
Digital lender Flexiloans raises Rs.290-Cr from Fundamentum, Accion, Nuveen, others
Mumbai-headquartered digital lending platform FlexiLoans has raised INR 290 crore in Series C funding from global and domestic investors, including Nandan Nilekani co-founded Fundamentum, Accion (a US-based non-profit organisation), Nuveen and existing investor Maj Invest.Before this round, the company had raised capital from Sanjay and Falguni Nayar, Maj Invest, Fasanara Capital, along with other prominent family offices.FlexiLoans lends to small businesses through a cash flow-based lending model. It will use the fresh capital to expand its operations, enhance product offerings, and strengthen its technological infrastructure.The fresh capital is expected to help the company grow its assets under management (AUM) from INR 2,000 crore currently to INR 3,500 crore. To date, FlexiLoans has disbursed over INR 7,000 crore in loans across more than 2,100 towns. The firm is targeting to disburse around INR 5,000 crore in loans in FY25.
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