NBFC Flexiloans has secured ₹375 crore in Series C Funding Round

Mumbai-based fintech NBFC FlexiLoans has secured ₹375 crore (~$43.8 million) in its ongoing Series C funding round, a strategic mix of primary and secondary transactions aimed at expanding its lending and tech infrastructure.

The round was led by existing investor Nuveen, a TIAA company, with participation from Fundamentum, Accion Digital Transformation Fund, Maj Invest, and British International Investment, which joined the cap table for the first time.

This comes just six months after FlexiLoans raised ₹290 crore in the first tranche of the same Series C round.

The latest infusion will fuel operational scale, product expansion, and technology upgrades. “The capital is good enough for us to take the asset under management from the current ₹2,500 crore to ₹6,000 crore,” said cofounder Deepak Jain.

Founded in 2016 by Deepak Jain, Ritesh Jain, and Manish Lunia, FlexiLoans provides quick, collateral-free loans to MSMEs and underserved businesses. The company claims to have disbursed loans worth over ₹10,000 crore across 2,100+ cities and towns, with ₹3,300 crore disbursed in FY25 alone.

It has raised a total of ₹746 crore in equity and over ₹2,000 crore in debt, and says it has been profitable for three consecutive years. The NBFC’s current AUM stands at ₹2,300+ crore, growing at a CAGR of 83% (FY22–FY25). Notably, 66% of its 170,000 loans have been issued in Tier II and III towns, supporting over 50,000 MSMEs.

The company clarified that only HNIs from early rounds have exited in the latest funding, while institutional investors remain on board.