FlexiLoans.com, among the leading electronic financing non-banking economic firms (NBFC) concentrated on MSMEs, has actually elevated Rs 290 crore in its Series C financing round. The round was led by worldwide and residential financiers consisting of Accion, Nuveen, and Fundamentum, with existing financier Maj Invest likewise getting involved. Unitus Capital functioned as the special consultant for the deal.
The recently elevated funds will certainly be utilized by FlexiLoans to increase its procedures, improve item offerings, and enhance its technical framework. The firm intends to sustain the development of Micro, Small, and Medium- sized Enterprises (MSMEs) throughout India, resolving the economic incorporation void and opening financial chances in underserved locations.
Prior to this round, the firm got financial investments from Sanjay and Falguni Nayar, Fasanara Capital, and various other noticeable family members workplaces.
India’s MSME field, adding about 30% to the nation’s GDP, stays underserved, with much less than 10% of MSMEs having accessibility to conventional banks financings. FlexiLoans intends to link this void, specifically in tier-2 and tier-3 cities, where accessibility to money is extra restricted. As need for MSME funding remains to expand with India’s increasing economic situation, FlexiLoans sees substantial chances in advance.
According to the firm, FlexiLoans has actually paid out over Rs 7,000 crore in financings throughout greater than 2,100 communities and cities, with properties under administration (AUM) going beyond Rs 2,000 crore. The firm runs in over 15,000 pin codes via electronic networks, without physical branches, and has a yearly dispensation run price of over 4,000 crore, offering greater than 1.5 million signed up individuals.
Speaking on the Series C financing round, Deepak Jain, Co- creator, FlexiLoans, stated: “We are pleased to have secured Series C round from such global blue-chip private equity funds who resonate with our vision to empower MSMEs across India. With this capital, we will further our mission of driving financial inclusion, expanding our reach, enabling more underserved MSME businesses to access the funds they need to grow and succeed”.
Till day, FlexiLoans has actually obtained a complete financing of Rs 636 crore in equity and Rs 2,000 crore in the red.
