FlexiLoans.com, one of many main digital lending non-banking monetary firms (NBFC) targeted on MSMEs, has raised Rs 290 crore in its Collection C funding spherical. The spherical was led by international and home buyers together with Accion, Nuveen, and Fundamentum, with current investor Maj Make investments additionally collaborating. Unitus Capital served because the unique advisor for the transaction.
The newly raised funds will probably be utilized by FlexiLoans to increase its operations, improve product choices, and strengthen its technological infrastructure. The corporate goals to help the expansion of Micro, Small, and Medium-sized Enterprises (MSMEs) throughout India, addressing the monetary inclusion hole and unlocking financial alternatives in underserved areas.
Previous to this spherical, the corporate acquired investments from Sanjay and Falguni Nayar, Fasanara Capital, and different distinguished household places of work.
India’s MSME sector, contributing roughly 30% to the nation’s GDP, stays underserved, with lower than 10% of MSMEs gaining access to conventional monetary establishment loans. FlexiLoans goals to bridge this hole, notably in tier-2 and tier-3 cities, the place entry to finance is extra restricted. As demand for MSME financing continues to develop with India’s increasing economic system, FlexiLoans sees vital alternatives forward.
In line with the corporate, FlexiLoans has disbursed over Rs 7,000 crore in loans throughout greater than 2,100 cities and cities, with property beneath administration (AUM) exceeding Rs 2,000 crore. The corporate operates in over 15,000 pin codes via digital channels, with out bodily branches, and has an annual disbursement run price of over ₹4,000 crore, serving greater than 1.5 million registered customers.
Talking on the Collection C funding spherical, Deepak Jain, Co-founder, FlexiLoans, mentioned: “We’re happy to have secured Collection C spherical from such international blue-chip non-public fairness funds who resonate with our imaginative and prescient to empower MSMEs throughout India. With this capital, we’ll additional our mission of driving monetary inclusion, increasing our attain, enabling extra underserved MSME companies to entry the funds they should develop and succeed”.
Until date, FlexiLoans has acquired a complete funding of Rs 636 crore in fairness and Rs 2,000 crore in debt.
