Mumbai, NFAPost: Fintech lender FlexiLoans.com has raised Rs150 crores from a mix of Equity and Debt lines.
FlexiLoans which earlier raised seed funding in one of Asia’s largest seed funding round in 2016, saw strong interest from Falguni and Sanjay Nayar Family Office which has provided the entire equity funding in the current round.
Along with the current funding, FlexiLoans has raised Rs 500 crores in mix of both equity and debt since its inception in 2016 and banking relationships with over 13 financial institutions.
The fund raise will help the firm in scaling up its micro SME lending and has a pipeline of significant alliance partnerships to be announced this quarter by offering innovative and differentiated lending products.
Co-lending
FlexiLoans is also looking to grow its supply chain and co-lending verticals which are witnessing significant growth and traction in the post Covid times.
Commenting on the funding, the Nayar Family Office spokesperson said FlexiLoans.com has one of the strongest fintech technology platform.
“The platform is a right mix of strategy, business partnerships and underwriting processes to capitalize on the digital lending opportunity in India, especially in the post-COVID environment,” said the Nayar Family Office spokesperson.
FlexiLoans.com Co-Founder Deepak Jain said 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.
Unsecured loans
“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,” FlexiLoans.com Co-Founder Deepak Jain.
Over the last 4 years, FlexiLoans.com has disbursed over 30,000 unsecured loans worth over Rs 800 crors in over 1400 cities Pan India and has over 100 partnerships with India’s leading E-commerce ecosystems, payment gateways and Supply chain ecosystems.
Its sophisticated data science and technology platform processes over 1.25 lacs customer applications monthly using proprietary credit score cards, early warning systems and decisions within 24 hours for a loan.
FlexiLoans.com has been ranked amongst the top 100 fintech innovators globally and is one of the Leading Digital Lending Platforms started with a vision is to provide “Loans at a click” to SMEs while solving their problem of accessing quick, flexible and adequate funds. It uses proprietary technology and risk models that focus on advanced analytics and surrogate methods for scoring customers.
