MSME-focused fintech lender FlexiLoans has raised ₹375 crore (approximately $44 million) in an extended Series C funding round, with participation from both existing and new investors. The round was led by Fundamentum, Accion Digital Transformation, Nuveen, and Maj Invest, while British International Investment (BII), the UK’s development finance institution, came on board as a new investor.
This latest infusion follows a ₹290 crore ($35 million) investment secured in September 2024, bringing the total capital raised in the last six months to ₹665 crore (nearly $78 million).
The round included both primary equity, aimed at scaling operations and technology, and secondary transactions to provide liquidity for early backers. Previously, FlexiLoans had secured investments from Sanjay and Falguni Nayar, Fasanara Capital, Maj Invest, and other prominent family offices.
In a press release, the company said the new funds will be used to expand operations, broaden product offerings, and enhance its tech stack.
Founded in 2016 by Deepak Jain, Ritesh Jain, and Manish Lunia, FlexiLoans serves underserved MSMEs through a fully digital platform that leverages alternative data to facilitate rapid credit access. It promises loan approvals within 48 hours, especially in tier II and tier III locations.
The company has built partnerships with over 25 lenders and 150+ strategic allies across e-commerce, payments, and other ecosystems, strengthening its reach and credit assessment capabilities.
To date, FlexiLoans claims to have disbursed over ₹10,000 crore in loans across 2,100+ towns and cities, with ₹2,300 crore in assets under management (AUM) and a compound annual growth rate (CAGR) of 83% between FY22 and FY25. It reports having served over 50,000 MSMEs via 1.7 lakh loans, with 66% from tier II and beyond, and more than 10% of its loan book directed toward women borrowers.
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