FlexiLoans.com raises $90 m in Collection B spherical

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Fintech lender FlexiLoans.com has raised $90 million (about Rs 699 crore) in Collection-B funding from marquee traders similar to Denmark-based non-public fairness agency Maj Make investments and UK-based fintech investor Fasanara Capital.

This funding marks Fasanara Capital’s first small and medium enterprise (SME) funding in India and Maj Make investments’s third this yr. The household places of work of traders Harry Banga and Yogesh Mahansaria, and present shareholders similar to veteran banker and deal maker Sanjay Nayar additionally took half within the spherical.

“Our present disbursement to this point is about Rs 1,700 crore and we plan to double this over the subsequent 12 months via co-lending, Purchase Now Pay Later and provide chain finance platforms. The recent capital might be used to strengthen our present lending base and attain out to extra small and under-served enterprises throughout 1,600 cities we serve,” Deepak Jain, co-founder of Flexiloans.com, stated.

The agency disburses greater than Rs 100 crore ($4 million) a month.

The spherical contains Rs 210 crore of fairness infusion and the stability in debt dedication, he stated, including this spherical would supply a “robust runway” (financing) for the agency.

Asialink Advisors and Axis Capital have been the advisors for the fund increase.

That is the third fund-raise by FlexiLoans.com. In 2016, the agency had raised Rs 100 crore from marquee traders, together with Sanjay Nayar and main bankers. Then, in 2020, it raised Rs 150 crore in an fairness and debt funding spherical led by the Sanjay and Falguni Nayar Household Workplace.

The agency has greater than 120 eco-system companions, together with e-commerce giants similar to Amazon, Flipkart, Nykaa and Myntra, and has built-in with seven co-lenders similar to Fullerton, RBL Bank and Karur Vysya Bank amongst others.

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