SUMMARY
- FlexiLoans raised INR 290 crore in Series C funding to enhance its MSME lending business.
- The funds will be used to expand operations, develop new products, and scale its digital platform.
- The startup aims to address the credit gap in the underserved MSME sector through data-driven solutions.
Fintech startup FlexiLoans has raised INR 290 crore (approximately $34.5 million) in its Series C funding round, with investment from Accion, Maj Invest, Nuveen, and Fundamentum. The company plans to use the fresh capital to fuel growth, broaden its product portfolio, and expand its operations across India.
The funding comes as FlexiLoans aims to strengthen its position in the micro, small, and medium enterprises (MSME) lending sector. Since its inception, FlexiLoans has disbursed over INR 7,000 crore in loans, covering more than 2,100 towns and cities across the country.
FlexiLoans plans to leverage the new funds to enhance its digital lending capabilities, scale its presence in underserved markets, and introduce innovative financial products tailored for MSMEs. The startup is looking to diversify its loan products and develop data-driven solutions that offer quicker access to credit for small businesses.
The funding round was backed by a mix of existing and new investors, including Accion, Maj Invest, Nuveen, and Fundamentum. This backing signifies strong investor confidence in FlexiLoans’ business model and growth potential. The company’s strategic approach focuses on using advanced technology and data analytics to reduce credit gaps in the MSME sector, which remains underserved by traditional banks.
In a statement, FlexiLoans highlighted its commitment to financial inclusion, stating, “We are dedicated to empowering small businesses with easy access to finance. The new funding will enable us to further innovate and scale our offerings to meet the diverse needs of MSMEs across India.”
The MSME sector is a key driver of the Indian economy, contributing over 30% to the GDP and employing millions. However, it faces significant challenges in accessing formal credit. FlexiLoans aims to address this gap by providing fast, flexible, and affordable lending solutions to small businesses, leveraging its digital platform and partnerships.
