India’s FlexiLoans bags $34.5m Series C for lending platform expansion

FlexiLoans raised $34.5 million in Series C funding to support India’s micro, small, and medium-sized enterprises (MSMEs) through its online lending platform.
The round was led by Maj Invest (also led the $90 million Series B in 2022), with new investors Accion Digital Transformation, Nuveen, and Fundamentum.
The platform has now raised $76.6 million in equity and over $240.9 million in debt.
Funds will be used to expand operations, enhance product offerings, and strengthen its technological infrastructure.
Co-founder Deepak Jain stated that the capital will help expand reach and support underserved MSMEs.
FlexiLoans uses a proprietary credit underwriting engine powered by machine learning to assess creditworthiness without requiring collateral.
The platform focuses on MSMEs in tier two and tier three cities, with $840 million disbursed to over 50,000 businesses to date.
FlexiLoans credits partnerships with e-commerce platforms, lenders, and payment technology vendors for creating innovative credit products.