Money & Banking

Fintech firm FlexiLoans.com raises ₹150 crore

Our Bureau Mumbai | Updated on October 28, 2020 Published on October 28, 2020

Fintech lender FlexiLoans.com has raised ₹150 crore from a mix of equity and debt, which the company will use to scale up its micro SME lending, supply chain and co-lending verticals.

The Falguni and Sanjay Nayar Family Office has provided the entire equity funding in the current round. The company had raised a seed funding earlier in 2016, FlexiLoans said in a statement.

Also read: GetVantage raises $5 million from Chiratae Ventures, Dream Incubators, others

Along with the current funding, FlexiLoans has raised ₹500 crore in equity and debt since its inception in 2016 and banking relationships with over 13 financial institutions.

“With this strong commitment by existing investors and industry veterans, FlexiLoans.com is now poised to enter the next phase of its growth journey that we have clearly crafted on the lines of profitability, growth and risk control. We chose to accept this bid over other term sheets we had from a few institutional investors, given the long term nature of this capital,” said Deepak Jain, co-founder of FlexiLoans.com.

The company will use the funding to scale up its micro SME lending, even as it is looking to grow its supply chain and co-lending verticals which are witnessing significant growth and traction in the post Covid-19 times.

Over the last four years, FlexiLoans.com has disbursed more than 30,000 unsecured loans worth over ₹800 crore in 1,400 cities and has over 100 partnerships with India’s leading e-commerce ecosystems, payment gateways and supply chain ecosystems.

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Published on October 28, 2020
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