FlexiLoans.com grew at an impressive rate of 3 times year-on-year growth rate in AUM in FY 23. The firm is currently disbursing loans at an annualized disbursement run rate of 3,000 crores and aims to double this run rate in the next 12 months. The truly digital growth was inclusive with 53% of its loans to first time business loan borrowers and 69% are in Tier2/3 towns.
FlexiLoans.com has more than 150 ecosystem partnerships including e-commerce giants such as Amazon, Flipkart, Nykaa and prominent food-tech, pharm-tech, and MSME SaaS platforms. In its efforts to fuel “Atmanirbhar Bharat” growth, FlexiLoans ensures ‘loans at a click’ for unbanked and under-served MSMEs, providing loans to small businesses in less than 2 days in a 100% digital format with minimal documentation, while leveraging alternate data.
The company has built one of India’s most comprehensive co-lending platforms with its unique end-to-end digital sourcing, underwriting, and servicing technology deployed across 8+ Financial institutions. It has also scaled its supply chain solutions 8 times in FY 23 with a unique blend of vendor financing and BNPL for MSMEs deeply embedded in multiple large platforms.
Ritesh Jain, Co-Founder Flexiloans.com said in a statement, ” We are thrilled to have achieved this significant milestone, and it is a testament to our commitment to supporting MSMEs in India. At FlexiLoans.com, we are committed to using technology to make finance more accessible, affordable, and transparent for MSMEs. Our focus on innovation, customer-centricity and collaboration with our lending partners has helped us achieve this milestone and we are confident of reaching even greater heights in the future and supporting MSMEs as India goes on to realise its ambition of becoming a US$5 trillion economy by 2025.
FlexiLoans.com raised $90 million (Around 700 crores) in Series B funding in 2022 from global marquee global investors like Denmark-based PE firm MAJ Invest and UK-based fintech investor Fasanara Capital. The Other investors in the round included Caravel Group (Harry Banga Family office), Yogesh Mahansaria and existing shareholders including Sanjay and Falguni Nayar.
