FlexiLoans, a prominent fintech startup that provides loans to small and medium enterprises (SMEs), has secured INR 75 Crore (about USD 9 Million) in debt funding from JM Financials Limited. The funding was obtained through the issuance of non-convertible debentures (NCDs).

The board of FlexiLoans approved a special resolution to offer up to 7,500 rated senior, secured, unlisted, transferable, redeemable NCDs at face value of INR 1 Lakh each. As per regulatory filings, this fundraising initiative aims to raise INR 75 Crore in one or more tranches. This recent capital raise follows a previous round in February when FlexiLoans secured USD 7.23 Million through debt financing.

Established in 2016 by Abhishek Kothari, Deepak Jain, Manish Lunia, and Ritesh Jain, FlexiLoans has become a significant player in the online lending industry. Focused on providing rapid and adaptable loans, the Mumbai-based company caters to SMEs and other underserved segments. The company has continuously expanded its presence and influence in the fintech sector.

In 2022, FlexiLoans raised USD 90 Million through equity and debt financing in its Series B funding round. Notable investors participated in the round, including Denmark-based MAJ Invest, UK-based Fasanara Capital, the family offices of Harry Banga and Yogesh Mahansaria, and existing investors such as Sanjay Nayar.

According to data from Inc42, FlexiLoans has raised nearly USD 148 million through venture and debt funding since its establishment.

This recent funding comes as significant investor interest is growing in India’s fintech sector. For instance, in June, lending tech startup Fibe secured USD 90 Mn (approximately INR 750 Crores) in its Series E funding round, spearheaded by TR Capital, Trifecta Capital, and Amara Partner through primary and secondary transactions.

Similarly, per regulatory filings, Bengaluru-based Slice obtained USD 20 Million (approximately INR 170 Cr) in debt funding from Neo Asset Management’s Credit Opportunities Fund.

Meanwhile, non-banking financial company (NBFC) Arthan Finance raised INR 50 Crore (USD 5.98 Million) as part of its Series B funding round, led by Incofin India Progress Fund, to expand its assets under management and enhance its presence in India.

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