Flexi loans, a digital lending platform for small businesses, is in discussions with a number of significant global and domestic investors to raise approximately Rs 300 crore ($35 million) in a new equity round, according to two well-informed sources.
the new funds will be primarily used to capitalize on the startup’s lending business and assist it in securing new debt.
Accion, a nonprofit organization headquartered in the United States that concentrates on financial inclusion, and Fundamentum, the organization founded by Infosys cofounder Nandan Nilekani, may participate in this round, the individuals said.
Flexi loans will be valued at approximately Rs 1,200 crore ($140 million) following this funding round. One of the individuals stated that Flexiloans was valued at approximately Rs 700 crore in the most recent round.
Read also – Six Sense Mobility Raises Rs 6 Cr Seed Funding Round
Flexi Loans, Fundamentum, and Accion did not respond to emails requesting comments.
After two years of the COVID-19 pandemic, the digital lending sector has been confronted with a multitude of challenges, and Flexiloan’s funding round has arrived at a critical juncture.
About FlexiLoans
Founded in 2016 by Deepak Jain, FlexiLoans is an online lending fintech platform, dedicated to simplifying the lending process for small and medium-sized enterprises (SMEs).
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