FlexiLoans.com, India’s leading MSME-focused fintech lending company today announced it has attracted nearly USD 90 million in Series B funding from marquee investors including Denmark based PE firm MAJ Invest, UK based fintech investor Fasanara Capital and the family offices of Dr. Harry Banga and Mr. Yogesh Mahansaria
along with many existing shareholders such as Mr. Sanjay Nayar. This investment round provides a strong runway to the firm for its growth journey at a time when there is fintech push by the government especially for the MSME sector.
This investment marks Fasanara Capital’s first SME fintech investment in India and MAJ Invest’s 3rd investment this year. MAJ Invest and Fasanara Capital have been investing in several prominent Fintechs and Non-Bank Financial Companies globally.
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.
In its efforts to fuel “Atmanirbhar Bharat” growth, FlexiLoans.com provides ‘Loans at a Click’ to small businesses and has disbursed over INR 1,700+ Crs (USD 220mn) to
MSMEs across across 1,600+ cities through 100% digital originations and zero branches.
The firm is currently one of the largest embedded finance players in India with more
than 120 eco-system partners including e-commerce giants like Amazon, Flipkart, Nykaa, Myntra, and others for financing sellers/vendors associated with these platforms.
Speaking on the Series B funding round, Deepak Jain, Co- Founder, Flexiloans.com said, “We are very excited to have institutional players MAJ Invest, Fasanara Capital and the Banga and Mahansaria family offices join us in our mission to help small businesses grow in India. Their experience in developing global fintech companies will help us in creating better products as well as organizational building. We are grateful that most of our existing investors also backed us in this round demonstrating their continuous faith in the platform. This round is particularly special because our investors now include long-term institutional investors, seasoned bankers and some of the largest global family offices – ingredients to build a world-class company backed by the right values.”
The company disburses over INR 100 Crs (USD14 mn) monthly and plans to double this run rate over the next year, with its co-lending platform contributing a significant share of growth.
FlexiLoans.com is amongst the most visited SME Fintech websites digitally attracting more than 1,00,000 monthly applications and has a massive organic reach with MSMEs in Tier II and Tier III towns pan India.