Flexiloans set to raise $75 mn to grow SME loan book

Mumbai, Apr 13 (KNN) Flexiloans.com, an online lending platform for SMEs aims to raise USD 75 million to grow its books for small and medium enterprises (SMEs), reported Mint.

According to two people in the know-how told Mint that the Sanjay Nayar-backed small business-focused fintech startup is looking at raising new funding and begun initial talks with investors.

“The company has hired investment bank Unitus Capital to run the process,” one of the two people told Mint seeking anonymity.

According to the second person, initial talks have been held with both growth-stage venture capital and private equity funds such as Westbridge Capital, Lightspeed Venture Partners and Steadview Capital.

“It is looking at raising primary capital. Existing investors are also likely to participate,” the person claimed.

In 2022, the firm raised USD 90 million in a Series B round from MAJ Invest, Fasanara Capital and the family offices of Yogesh Mahansaria and Harry Banga.

It has so far raised around USD 100 million debt and equity. Sanjay and Falguni Nayar were the early backers of the business.  (KNN Bureau)