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Lender to MSMEs FlexiLoans raises Rs.375-Cr from BII, existing investors

Yourstory   FlexiLoans  

FlexiLoans , a Mumbai-based lender to micro, small and medium enterprises (MSMEs), has raised INR 375 crore in its Series C funding round, led by existing investors Fundamentum, Accion Digital Transformation, Nuveen, and Maj Invest with participation from new investor ?British International Investment? (BII). The deal included primary and secondary purchase of shares. Unitus Capital served as the exclusive advisor for the transaction.Founded in 2016 by Deepak Jain, Ritesh Jain, and Manish Lunia, FlexiLoans lends from INR 2-25 lakh to MSMEs alongside supply chain financing with limits spanning INR 25 lakh to INR 10 crore.The proceeds from the primary issue will be used to expand operations, fuel product development, and to enhance technology infrastructure.

Between Oct 2020 and Dec 2024, FlexiLoans had attracted about USD 181 M from IFC, Accion International, Fundamentum, Maj Invest, TIAA, Falguni and Sanjay Nayar Family Office and others.For FY24, FlexiLoans had reported about INR 262 Cr in Operating Income and about INR 3 Cr in PAT.