[Funding Alert] Lending Major FlexiLoans.com raises $90 Mn Series B Funding

Flexi Loans Cofounders

FlexiLoans.com, India’s leading MSME-focused fintech lending company has raised $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 Mr 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.

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.

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.

In its efforts to fuel “Atmanirbhar Bharat” growth, FlexiLoans provides ‘Loans at a Click’ to small businesses and has disbursed over INR 1,700+ Crs ($220mn) to MSMEs across across 1,600+ cities through 100% digital originations and zero branches.

Deepak Jain, Co-Founder of Flexiloans.com, said, 

“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. We are grateful that most of our existing investors also backed us in this round demonstrating their continuous faith in the platform. 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.”

David Paradiso, Partner at MAJ Invest, said, 

“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.”

Francesco Filia, CEO of Fasanara Capital, said, 

“India is a strong market for MSME financing and we are delighted to partner with FlexiLoans, which is amongst the pioneers in the digital MSME lending space in India and shares a similar commitment to Fasanara’s to reduce the financing gap for MSMEs. Embedded financing to merchants in the ecommerce ecosystem is a sweet spot that we invest in across the world and FlexiLoans.com has a strong product led partnerships in India for the same.”

Sanjay Nayar, Founder – Sorin Investment, said,

“The FlexiLoans team has grown the business with the right principles of quality credit underwriting, granular customer sourcing via strong partnerships and top notch technology infrastructure. We are excited to back them again for their next and important leg of transition to a leading digital lender with an eventual path to digital banking in the future’

FlexiLoans.com had previously raised ~$20mn in India’s largest seed funding and Series A investment led by Mr 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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