FlexiLoans- Digital lending platform raised $90M

Denmark-based private equity firm Maj Invest and UK-based fintech investor Fasanara Capital have invested their money in the digital lending platform named as FlexiLoans. This digital lending platform has raised $90 million in a Series B funding round. There were many more investors who invested in the funding round.

As per the company, this investment marks Fasanara Capital’s first SME fintech investment in India.

The FlexiLoans is planning to utilize the fresh capital funding in the following ways:

To develop the technical base and double its loan book via its co-lending,
Buy-now-pay-later services (BNPL), and
Supply chain finance platforms.

The startup will keep on investing its money into technology and strengthen aspects of customer automation, risk management, and analytics capabilities.

FlexiLoans was founded by Deepak Jain, Manish Lunia, Ritesh Jain, and Abhishek Kothari in the year 2016. The MSME-focused digital NBFC promised to be growing at a CAGR of 500% with over 15 lakh registered users.

Flexiloans has created a co-lending platform named, Bi-frost and integrated with seven co-leaders, including Fullerton, RBL Bank, and Karur Vysya Bank. About 55-60% of new loans are distributed via Bi-frost.

Bi-frost operates in the embedded finance space and helps financially to the sellers or vendors of e-commerce platforms, including Amazon, Flipkart, Nykaa, Myntra, and others.

EXECUTIVE OPINION:

“We are very excited to have institutional players MAJ Invest, Fasanara Capital, and the Banga and Mahansaria family offices join us in our mission to help small businesses grow in India. Their experience in developing global fintech companies will help us in creating better products as well as organizational building,” said Deepak Jain, Co-founder at Flexiloans.com.

“Our current disbursement to date is about Rs 1,700 crore and we plan to double this over the next 12 months through co-lending, BNPL, and supply chain finance platforms. The fresh capital will be used to strengthen our existing lending base and reach out to more small and underserved enterprises across 1,600 cities we serve,” he said.

Tags : FlexiLoans, StartupsDekho

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FlexiLoans- Digital lending platform raised $90M

Tags : FlexiLoans, StartupsDekho

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