BENGALURU: MSME-focused lending startup FlexiLoans.com has raised nearly $90 million from Denmark-based PE firm MAJ Invest, UK-based fintech investor Fasanara Capital, and the family offices of Harry Banga and Yogesh Mahansaria, along with many existing shareholders such as Sanjay Nayar, chairman of private equity firm KKR India. The funds will be used for technology development and to more than double its MSME book via its co-lending, BNPL (buy now, pay later) and supply chain finance platforms. The investment in technology is expected to strengthen automation, risk management and analytics capabilities.
FlexiLoans.com, co-founded by Abhishek Kothari, Manish Lunia and Deepak Jain, has disbursed Rs 1,700 crore to MSMEs across 1,600 cities. It had previously raised $20 million in funding led by Nayar. The firm has over 120 partners including e-commerce giants like Amazon, Flipkart, Nykaa, Myntra and others for financing sellers/vendors associated with these platforms.
