FlexiLoans AUM Crosses Rs.1000 Crores, Aims to hit Rs.10,000 Crores by 2025
FlexiLoans.com, India’s leading MSME-focused fintech NBFC, today announced that its assets under management has crossed the milestone of INR 1000 Crores and it has disbursed 70,000+ loans worth over Rs 3,400+ crore across 2,000+ cities through 100% digital originations and zero branches as of March 2023. It is also projecting to achieve full-year profitability on the back of solid fundamentals. It aims to reach Rs. 10,000 crores in AUM by 2025 and be among the top three pure-play MSME lending institutions in the country.
FlexiLoans.com grew at an impressive rate of 3x year-on-year growth rate in AUM in FY 23. The firm is currently disbursing loans at an annualized disbursement run rate of 3,000 crores and aims to double this run rate in the next 12 months. The truly digital growth was inclusive with 53% of its loans to first time business loan borrowers and 69% are in Tier2/3 towns.
FlexiLoans.com is currently one of the largest embedded finance players in India, with more than 150+ ecosystem partnerships including e-commerce giants such as Amazon, Flipkart, Nykaa and prominent food-tech, pharm-tech, and MSME SaaS platforms. In its efforts to fuel “Atmanirbhar Bharat” growth, FlexiLoans ensures ‘loans at a click’ for unbanked and under-served MSMEs, providing loans to small businesses in less than 2 days in a 100% digital format with minimal documentation, while leveraging alternate data.
The company has built one of India’s most comprehensive co-lending platforms with its unique end-to-end digital sourcing, underwriting, and servicing technology deployed across 8+ Financial institutions. It has also scaled its supply chain solutions 8X in FY 23 with a unique blend of vendor financing and BNPL for MSMEs deeply embedded in multiple large platforms.
Commenting on this achievement, Mr. Ritesh Jain, Co-Founder Flexiloans.com said, ” We are thrilled to have achieved this significant milestone, and it is a testament to our commitment to supporting MSMEs in India. At FlexiLoans.com, we are committed to using technology to make finance more accessible, affordable, and transparent for MSMEs. Our focus on innovation, customer-centricity and collaboration with our lending partners has helped us achieve this milestone and we are confident of reaching even greater heights in the future and supporting MSMEs as India goes on to realise its ambition of becoming a US$5 trillion economy by 2025.
FlexiLoans.com raised USD 90 million (Around 700 crores) in Series B funding in 2022 from global marquee global investors like Denmark-based PE firm MAJ Invest and UK-based fintech investor Fasanara Capital. The Other investors in the round included Caravel Group (Harry Banga Family office), Yogesh Mahansaria and existing shareholders including Sanjay and Falguni Nayar.
Notes to Editor
FlexiLoans Key Highlights:
- Amount of funding received: ~$100mn (Debt + equity)
- Year of inception: 2016
- No. of employees: ~370
- Monthly customer applications – 3,00,000+
- AUM: ~Rs. 1,050crs+
- Website visits: 12mn+ p.m
- Access to 10 Mn+ SMEs via 150+ Partners such as Flipkart, Amazon, Pine Labs, Paisabazaar
- Over 9 Mn+ Lifetime Web Customers with the App having 700k+ downloads
- 53% of Loans are to SMEs borrowing their first Business loan ever
- 69% of Loans are in Tier II and Tier III towns
- 25% of Loans are to Female Entrepreneurs
- INR 30 bn disbursements run rate on an annual basis
About FlexiLoans.com:
FlexiLoans.com has been ranked amongst the top 100 fintech innovators globally and has been one of the Leading Digital Lending Platforms in India. The company started with a vision to provide ‘Loans at a Click’ to SMEs while solving their problem of accessing quick, flexible and adequate funds. It uses proprietary technology and risk models that focus on advanced analytics and surrogate methods for pricing its credit products.
With more than 120 partnerships with ecosystem players such as Flipkart, Amazon, Pinelabs, and PayPal, it is at the forefront of providing lending solutions to MSME ecosystems in India. Visit www.flexiloans.com to know more about its products and services.
