Flexiloans bags $44 million in Series C round
11 Jun 2025, 01:57 PMFlexiloans will use the fresh capital to boost its operations, improve product offerings and upgrade its infrastructure.
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Flexiloans, which lends to India's micro, small and medium enterprises (MSMEs), said it has raised Rs 375 crore ($44 million) as part of its Series C funding round from new and existing investors.
The current funding was led by existing investors Fundamentum, Accion Digital Transformation, Nuveen, and Maj Invest. British International Investment (BII), the UK’s development finance institution, joined as the new investor.
Flexiloans will use the fresh capital to boost its operations, improve product offerings and upgrade its infrastructure.
The company, which was founded in 2016 by Deepak Jain, Ritesh Jain, and Manish Lunia, had Rs 290 crore ($35 million) infusion in September last year.
FlexiLoans has disbursed over Rs 10,000 crore across more than 2,100 towns and cities. Its current assets under management (AUM) stands at Rs 2,300 crore, with a compound annual growth rate (CAGR) of 83% from FY22 to FY25.
Announcing the fund-raise, Flexiloans co-founder Ritech Jain said that the company plans to scale the AUM to Rs 5,000 crore in 18-24 minths and increasing profitability.