NBFC FlexiLoans Bags INR 375 Cr To Boost Its Product Offerings

Non-banking financial company (NBFC) FlexiLoans has secured INR 375 Cr (around $43.8 Mn) as a part of its ongoing Series C funding round.

The round, which was a mix of primary and secondary deals, was led by the NBFC’s existing investor Nuveen, with participation from Fundamentum, Accion Digital Transformation and Maj Invest. UK’s British International Investment also joined the captable.

The investment comprised both primary equity to fuel operational expansion and secondary transactions to facilitate liquidity for existing investors, FlexiLoans said in a statement.

It is pertinent to note that FlexiLoan’s latest fundraise follows six months after it bagged in the first tranche of its Series C funding round from Accion, Maj Invest, Nuveen and Fundamentum, in last September.

The NBFC plans to scale up its operations, bolster product offerings and strengthen technology infrastructure with the fresh infusion.

Founded in 2016 by Deepak Jain, Ritesh Jain and Manish Lunia, FlexiLoans is an online lending platform that focuses on small and medium enterprises (SMEs) and other underserved segments to provide quick and flexible loans.

Jain said that some HNIs (high net worth individuals) have made exits but none of the institutional investors are exiting in the funding round. “It’s only the HNI shareholders who came in the first few rounds are given partial exits.”

The NBFC claims to have disbursed over INR 10,000 Cr in loans across 2,100 towns and cities till date. In the financial year 2025 (FY25) alone, FlexiLoans has disbursed INR 3,300 Cr loans.

It also claims to have assets under management (AUM) of over INR 2,300 Cr, growing at 83% CAGR (FY22–FY25).

On utilising fresh capital, Jai said, “The capital is good enough for us to take the asset under management from currently around INR 2,500 Cr up to INR 6,000 Cr.”

The NBFC has supported over 50,000 MSMEs through more than 170K loans, with 66% in tier II and III cities. It further claims to have raised INR 746 Cr in equity and over INR 2,000 Cr in debt so far. FlexiLoans also claims to be profitable for the past three consecutive years.

Earlier this year, the Mumbai-based NBFC appointed as the head of its supply chain finance vertical.

NBFCs Hogging The Investors’ Limelight

FlexiLoan’s funding round comes at a time when startups are increasingly seeking NBFC licences to gain regulatory recognition and access wider financial markets.

This licence allows them to offer lending services directly, without relying on partnerships with banks or other licenced NBFCs, providing more control and potential for revenue diversification.

Last week, to offer loans directly to consumers and sellers on its platform.

In March, fintech major Jio Finance Limited (JFL) to further expand its offerings.

With a growing number of companies entering direct lending through NBFC licences, investors are also making strategic bets.

For instance, NBFC Finodaya Capital announced it raised led by White Venture Capital in April, a week after it secured NBFC licence.

Prior to that, supply chain financing platform Vayana received a NBFC licence from the RBI. It is also reportedly planning to raise an additional

Earlier this year, NBFC round co-led by existing investors Juvo Ventures and Capria Fund.

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