Flexiloans, a digital loaning platform centered on small, micro and medium ventures (MSMEs), has effectively brought 290 crore up in its Series C funding round. 

The funding round was driven by a blend of worldwide and homegrown financial backers, including Accion, Nuveen, Fundamentum, and existing financial backer Maj Invest. This new imbuement of capital is set to speed up the organization's development, permitting it to improve its item contributions, grow tasks, and support its mechanical framework. 

As per Deepak Jain, Co-founder of Flexiloans, the organization's total assets right now remains at roughly 300 crore, while its resources under administration (AUM) have stretched around 2,000 crore. With the new 290 crore raise support, Flexiloans means to almost twofold its AUM to 4, 000 crore over the course of the following 12 to year and a half. 

Jain said, “The Rs 290 crore fundraise will help us expand our operations further. Our current net worth is around 300 crore and we are now already at roughly Rs 2,000 crore in asset under management. So this 290 crore of additional fundraise will help us further expand this asset under management over the next 12 to 18 months to around 4, 000 crore. We are profitable, so all the investments in technology and operations and new products which we are developing are funded in-house. So this funding will be to further amplify our growth via leverage, etc,”

Jain underlined that this capital will act as influence to enhance their development, especially in extending their credit contributions to underserved MSMEs the nation over Flexiloans' ongoing item portfolio comprises of two essential contributions, the two of which have demonstrated to be crucial to the development of MSMEs across India. 

The organization's most famous item is its EMI-based credits, which take special care of the requirements of independent companies searching for adaptable reimbursement choices. Jain made sense of that MSMEs, particularly little dealers, wholesalers, and retailers, favor credits with little EMI installments spread north of a few years for purposes like working capital or business development. 

Since 2018, Flexiloans has been actively involved in supply chain financing in addition to term loans. Of its 2,000 crore AUM, 1,500 crore comes from term advances, while the excess 400-450 crore is attached to production network supporting. Jain sees enormous potential in this market as a result of disruptions in global supply chains and the rapid expansion of India's manufacturing sector. Flexiloans has proactively dispensed over 7,000 crore in advances to MSMEs the nation over. With this new subsidizing, the organization is ready to reinforce its presence further, tending to the developing interest for available and custom-made monetary answers for MSMEs.