FlexiLoans.com Raises $90 Mm From Marquee Global Investors To Fuel Growth Denmark-based PE firm Maj Invest led the round
By Soumya Duggal •
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FlexiLoans.com, an Indian micro, small and medium enterprises (MSME)-focused fintech lending company, has raised nearly $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 along with many existing shareholders such as Mr. Sanjay Nayar.
This investment round provides a strong runway to the firm for its growth journey at a time when there is a fintech push by the government, especially for the MSME sector, said a statement.
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, added the staement. 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.
In its efforts to fuel "Atmanirbhar Bharat" growth, FlexiLoans.com provides 'loans at a click' to small businesses and claims to have disbursed over INR 1,700 crores ($220 million) to MSMEs across across more than 1,600 cities through 100% digital originations and zero branches.
"We are impressed with FlexiLoans' vision, strong management team and solid technology platform for driving financial access to deserving Micro SMEs. Indian MSMEs are increasingly adopting digital tools and FlexiLoans' technology and data science assets are a perfect match to seize this opportunity to deepen financial access where its most needed," said David Paradiso, partner, MAJ Invest.
This investment marks Fasanara Capital's first SME fintech investment in India and MAJ Invest's third investment this year. MAJ Invest and Fasanara Capital have been investing in several prominent fintechs and non-bank financial companies globally. In its efforts to fuel "Atmanirbhar Bharat" growth, FlexiLoans.com provides 'loans at a click' to small businesses and claims to have disbursed over INR 1,700 crores ($220 million) to MSMEs across across more than 1,600 cities through 100% digital originations and zero branches.
"We are very excited to have institutional players MAJ Invest, Fasanara Capital and the Banga and Mahansaria family offices join us in our mission to help small businesses grow in India. Their experience in developing global fintech companies will help us in creating better products as well as organizational building ... This round is particularly special because our investors now include long-term institutional investors, seasoned bankers and some of the largest global family offices – ingredients to build a world-class company backed by the right values." said Deepak Jain, co-founder, FelxiLoans.
