FlexiLoans Raises Rs 375 Crore in Series C to Strengthen Product Offerings and Technology
Mumbai-based NBFC FlexiLoans has secured Rs 375 crore (approximately $43.8 million) in a fresh round of funding, marking the second leg of its ongoing Series C round. The round was a mix of primary and secondary transactions, with participation from both existing and new investors.
Led by Nuveen, the round also saw continued support from Accion Digital Transformation Fund, Fundamentum, Maj Invest, and new investor British International Investment. The funding includes fresh equity to drive growth and secondary share sales offering partial exits to early high-net-worth individual (HNI) investors.
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FlexiLoans said the capital will be used to expand its operations, enhance its product suite, and strengthen its technology infrastructure. The startup is aiming to significantly increase its asset under management (AUM) — from the current Rs 2,500 crore to Rs 6,000 crore — in the coming years.
Founded in 2016 by Deepak Jain, Ritesh Jain, and Manish Lunia, FlexiLoans focuses on providing fast and flexible credit to small and medium enterprises (SMEs), especially in underserved markets. The NBFC has disbursed over Rs 10,000 crore worth of loans across 2,100 towns and cities so far. In FY25 alone, it disbursed Rs 3,300 crore in loans.
Speaking about the round, co-founder Deepak Jain noted that none of the institutional investors are exiting. “Only some of the early HNI shareholders are being given partial exits,” he said.
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With over 1.7 lakh loans disbursed to more than 50,000 MSMEs, the company claims that 66% of its customers are from Tier 2 and Tier 3 cities. FlexiLoans currently manages an AUM of Rs 2,300 crore, growing at a compound annual growth rate of 83% from FY22 to FY25. The NBFC has so far raised Rs 746 crore in equity and over Rs 2,000 crore in debt.
The company has also been profitable for the past three years. Earlier this year, it strengthened its leadership team by appointing Hemant Saklecha as Chief Credit and Risk Officer (CCRO) and Pavan Matai as head of its supply chain finance vertical.
FlexiLoans’ latest fundraise comes at a time when MSME lending is witnessing a surge, and the company is positioning itself as a key player in supporting India’s small business ecosystem through tech-led, digital-first lending.
Disclaimer: This post is for general informational purposes only. It does not constitute financial advice. Please consult a qualified professional before making financial decisions.
