The Falguni and Sanjay Nayar Household Workplace is the private funding arm of KKR India head Sanjay Nayar and Nykaa founder and chief govt Falguni Nayar.
The most recent spherical follows a capital infusion of Rs 500 crore, which the Mumbai-based fintech firm had raised in 2016, a mixture of debt and fairness, of which Rs 400 crore was debt financing.
That spherical additionally noticed Sanjay Nayar investing within the firm.
In keeping with media experiences, other than Nayar, former CIO of HDFC Financial institution, Anil Jaggia, and former head of operations and know-how at Citibank, Vikram Sud, had additionally invested within the firm.
“FlexiLoans.com has been discovered to be one of many strongest fintech know-how platforms with a right combination of technique, enterprise partnerships and underwriting processes to capitalise on the digital lending alternative in India, particularly within the post-Covid-19 setting,” a spokesperson from the Nayar Household Workplace stated.
Based in 2016 by Indian Faculty of Enterprise alums Abhishek Kothari, Deepak Jain, Manish Lunia and Ritesh Jain, FlexiLoans stated it has disbursed greater than 30,000 unsecured loans value over Rs 800 crore throughout greater than 1,400 cities.
It plans to make use of the proceeds to scale up its micro SME lending and launch new lending merchandise and enter into alliances. Additionally it is concentrating on to ramp up its provide chain and co-lending verticals.
“With this sturdy dedication by present buyers and business veterans, FlexiLoans.com is now poised to enter the following section of its development journey that we have now clearly crafted on the strains of Profitability, Progress and Danger Management. We selected to simply accept this bid over different time period sheets we had from just a few institutional buyers, given the long-term nature of this capital,” stated Deepak Jain, co-founder of FlexiLoans.com, stated.
EY acted as sole monetary advisor, whereas Shardul Amarchand Mangaldas acted as sole authorized advisors.
In keeping with the corporate, the funding in FlexiLoans can be the biggest by the Nayar Household Workplace, other than its funding in omni-channel magnificence and life-style retailer Nykaa.
FlexiLoans stated it supplies “loans at a click on” to small, medium and micro-enterprises, which in any other case, discover it troublesome to entry institutional capital as a consequence of their insufficient monetary historical past or incapability to offer collateral. FlexiLoans supplies time period loans, loans in opposition to level of sale, line of credit score, vendor financing, in addition to a bunch of value-added providers, corresponding to banking insurance coverage and authorized session, amongst others, underpinned by its know-how platform.
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