SME lender FlexiLoans raises $90-M from MAJ Invest, Fasanara Capital, others

Mumbai-based fintech startup FlexiLoans has raised USD 90 million through a mix of equity and debt financing in its Series B funding round. The fundraise saw participation from Denmark-based MAJ Invest, UK-based Fasanara Capital and the family offices of Harry Banga and Yogesh Mahansaria, as well as existing investors such as Sanjay Nayar. While nearly USD 28 million was raised via equity infusion, the rest was raised in debt. FlexiLoans is an online lending platform that targets SMEs and other underserved segments to provide quick and flexible loans. The new capital will be deployed in the small and medium enterprises (SMEs) sector and for expanding its user base. The startup will also invest more in technology and strengthen different verticals such as customer journey automation, risk management and analytics capabilities.