[Funding News] Flexiloans Raises Rs 290 Cr Funding Led by Accion, Fundamentum, Others

In an equity funding round led by American not-for-profit fund Accion, US asset management firm Nuveen, and Nandan Nilekani-backed venture fund Fundamentum, Mumbai-based digital lending startup Flexiloans has secured Rs 290 crore (approximately $35 million).

Maj Invest, a Danish company that invested in the most recent round, also participated in the most recent round. Other existing investors refrained from participating.

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In 2023-24, the organization disbursed Rs 3,000 crore in loans, primarily to small and medium-sized enterprises, and has amassed an AUM (asset under management) of approximately Rs 2,000 crore. Its current aggregate bad loans comprise 3.4% of its AUM.

Deepak Jain, founder, said: “We have invested in building strong collections capabilities, which has helped keep our bad assets under check and we intend to grow sustainably,”

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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