FlexiLoans Raises INR 290 Cr Series C Funding to Expand Operations and Enhance Tech for MSME Lending The round was led by global and domestic investors, including Accion, Nuveen, Fundamentum, and existing investor Maj Invest, with Unitus Capital serving as the exclusive advisor to the transaction.
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FlexiLoans, a digital lending NBFC focused on India's Micro, Small, and Medium Enterprises (MSMEs), has raised INR 290 crore in its Series C funding round. The round was led by global and domestic investors, including Accion, Nuveen, Fundamentum, and existing investor Maj Invest, with Unitus Capital serving as the exclusive advisor to the transaction.
This latest equity raise brings FlexiLoans' total funding to INR 636 crore, alongside over INR 2,000 crore in debt funding.
The fresh capital will enable FlexiLoans to expand its operations, enhance product offerings, and strengthen its technological infrastructure. The company's mission is to fuel the growth of MSMEs across India by driving financial inclusion and unlocking economic opportunities for small businesses.
"We are pleased to have secured INR 290 crore in our SeriesC round from such global blue-chip private equity funds who resonate with our vision to empower MSMEs across India. With this capital, we will further our mission of driving financial inclusion, expanding our reach, and enabling more underserved MSME businesses to access the funds they need to grow and succeed," said Deepak Jain, Co-founder of FlexiLoans.
Founded in 2016 by Deepak Jain, Ritesh Jain, and Manish Lunia, FlexiLoans has built a digital-first approach to lending, offering term loans (ranging from INR 2 lakh to INR 25 lakh) and supply chain finance (limits ranging from INR 25 lakh to INR 10 crore) to small businesses.
Nethra Bhat, Partner, Asia, AccionDigital Transformation, said, "FlexiLoans is connecting MSMEs across India to working capital so they can better serve their customers. They understand the Indian digital MSME space and their customers's needs and have a strong tech platform."
The Mumbai-based company claims to have disbursed over INR 7,000 crore in loans across more than 2,100 towns and cities in India. It operates through a 100% digital origination model, serving over 15,000 pin codes without physical branches.
A significant portion of FlexiLoans' success comes from its strategic partnerships with major e-commerce and payment platforms, such as Flipkart, Amazon, Paytm, and PhonePe. Through these partnerships, FlexiLoans reaches over 10 million SMEs and provides access to customised credit solutions.
By leveraging its tech platform, FlexiLoans collaborates with 20+ lenders, allowing it to serve a larger and more diverse MSME customer base.
Radhika Shroff, Managing Director, Impact Investing Private Equity at Nuveen, said, "India is home to over 60 million small businesses in need of working capital. FlexiLoans provides a commercial and proven solution by offering small businesses a differentiated digital delivery and underwriting model to scale financial inclusion to underserved Tier II and Tier III cities."
FlexiLoans is poised for further growth, with expected disbursements of INR 5,100 crore in FY25.
