FlexiLoans, an India-based digital lender focused on micro, small, and medium-sized enterprises (MSMEs), has secured $44 million (₹375 crores) in fresh funds in an extension of its Series C funding round.
The investment follows a $34 million (₹290 crore) capital injection secured in September 2024.
Accion Digital Transformation, Fundamentum, Nuveen, and Maj Invest led the latest funding round, with British International Investment (BII) joining as a new investor.
Founded in 2016 by Deepak Jain, Ritesh Jain, and Manish Lunia, FlexiLoans has disbursed over 170,000 loans amounting to over $1.1 billion (₹10,000 crore). The company employs a proprietary credit underwriting engine to determine lending eligibility and deliver customised funding arrangements for small businesses across India.
The Mumbai-based fintech says that the Series C funding includes primary equity to “expand operations, enhance product offerings, and strengthen technology infrastructure”, as well as “secondary transactions to facilitate liquidity for existing investors”.
Source: https://www.fintechfutures.com/
