BackFlexiLoans raises $90 million from global investors in Series B funding
The fundraise will help the firm in scaling up its micro SME lending and creating technological edge for its BNPL, supply chain and co-lending services
PremiumMSME-focused fintech lending platform FlexiLoans.com on Tuesday announced that it has attracted nearly USD 90 million in Series B funding from marquee investors including Denmark based PE firm MAJ Invest, UK based fintech investor Fasanara Capital and the family offices of Dr. Harry Banga and Yogesh Mahansaria.
This investment round provides a strong runway to the firm for its growth journey at a time when there is fintech push by the government especially for the MSME sector, the company said in a release.
“The capital raised will fuel FlexiLoans’s growth ambitions as it plans to focus on technology development and more than double its MSME book via its Co-lending, BNPL and Supply Chain Finance platforms. Having built technology assets for platform lending, pricing and customer journeys it will continue to invest in cutting edge technology to strengthen its customer journey automation, risk management & analytics capabilities," FlexiLoans added.
This investment marks Fasanara Capital’s first SME fintech investment in India and MAJ Invest’s 3rd investment this year. MAJ Invest and Fasanara Capital have been investing in several prominent Fintechs and Non-Bank Financial Companies globally. Asia Link Advisors and Axis Capital were as advisors for the fund raise.
FlexiLoans.com had previously raised ~USD 20mn in seed funding and Series A investment led by Sanjay Nayar and marquee bankers. The firm is currently one of the largest embedded finance players in India with more than 120 eco-system partners including e-commerce giants like Amazon, Flipkart, Nykaa, Myntra, and others for financing sellers/vendors associated with these platforms.
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