FlexiLoans to utilise $90 mn funds for twofold increase in MSME book

Bengaluru, June 7 (KNN) MSME online lending platform FlexiLoans.com has raised nearly USD 90 million and intends to use it to double its MSME book via co-lending.

It will also use the funds for technology development, BNPL (buy now, pay later) and supply chain finance platforms.

The investment in technology is expected to strengthen automation, risk management and analytics capabilities.

The Mumbai based startup raised the fund from Denmark-based PE firm MAJ Invest, UK-based fintech investor Fasanara Capital, and the family offices of Harry Banga and Yogesh Mahansaria, along with many existing shareholders such as Sanjay Nayar, Chairman of private equity firm KKR India, as per media sources.

It has so far disbursed Rs 1,700 crore to MSMEs across 1,600 cities. And had previously raised USD 20 million in funding led by Nayar.  (KNN Bureau)