MSME-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. have done. and Yogesh Mahansaria.
This investment round provides the firm with a strong runway for its growth journey at a time when the government is making a fintech push, especially for the MSME sector, the company said in a release.
“The capital raised will boost FlexiLoans’ growth ambitions as it plans to focus on technology development and double its MSME book through its co-lending, BNPL and supply chain finance platforms. Having built technical assets for platform lending, pricing and customer journey, it will continue to invest in cutting-edge technology to strengthen its customer journey automation, risk management & customer journey. analysis capabilities,” added FlexiLoans.
This investment is Fasanara Capital’s first SME fintech investment in India and MAJ Invest’s third investment this year. MAJ Invest and Fasanara Capital are investing in several leading fintech and non-bank financial companies globally. Asia Link Advisors and Axis Capital were the advisors for raising the funds.
FlexiLoans.com previously raised USD 20 million in seed funding and Series A investments led by Sanjay Nair and Marquee Bankers. The firm is currently one of the largest embedded finance players in India with over 120 eco-system partners including e-commerce giants like Amazon, Flipkart, Nykaa, Myntra, etc. to finance sellers/sellers associated with these platforms.