FlexiLoans.com, an MSME-focused fintech lending platform, announced that it had raised nearly USD 90 million in Series B funding from prominent investors such as Denmark-based PE firm MAJ Invest, UK-based fintech investor Fasanara Capital, and Dr Harry Banga and Yogesh Mahansaria’s family offices.
This investment round gives the company a significant runway for expansion when the government is pushing fintech, particularly for the MSME sector, according to a press release.
“The capital raised will fuel FlexiLoans’s growth ambitions as it plans to focus on technology development and more than double its MSME book via its Co-lending, BNPL and Supply Chain Finance platforms. Having built technology assets for platform lending, pricing and customer journeys, it will continue to invest in cutting edge technology to strengthen its customer journey automation, risk management & analytics capabilities,” FlexiLoans added.
This is Fasanara Capital’s first SME fintech investment in India and MAJ Invest’s 3rd this year. MAJ Invest and Fasanara Capital have invested in several well-known Fintechs and Non-Bank Financial Companies worldwide. Asia Link Advisors and Axis Capital advised the fundraising.
“We currently disburse over Rs 100 crore of loans monthly and plan to double this run rate over the next year, with our co-lending platform contributing a significant share of growth,” said cofounder, Deepak Jain.
FlexiLoans.com has previously obtained USD 20 million in seed funding and Series A funding from Sanjay Nayar and other prominent bankers. With more than 120 eco-system partners, including e-commerce giants like Amazon, Flipkart, Nykaa, Myntra, and others for financing sellers/vendors affiliated with these platforms, the company is now one of India’s major embedded finance firms.
