**Flexiloans Expands into New Lending Segments and Insurance Offerings**
Flexiloans, a prominent player in MSME lending, is set to diversify its services by entering two new lending segments and expanding into insurance for its customers. The company’s co-founder and CEO, Deepak Jain, revealed that they are actively pursuing acquisitions to bolster these new initiatives. This strategic move follows a successful fundraising effort, where Flexiloans secured ₹665 crore in an extended Series C round from existing investors, including Fundamentum, Accion Digital Transformation, Nuveen, and Maj Invest, along with new investor British International Investment.
Jain emphasized the company’s focus on developing new products to capture a larger share of the MSME market. “We’re aggressively and actively looking for inorganic opportunities,” he stated. With ₹375 crore raised in this funding round, Flexiloans aims to increase its assets under management (AUM) from ₹2,000 crore to ₹4,000 crore within the next year, with a long-term goal of reaching ₹5,000-6,000 crore in AUM over the next 18 to 24 months.
In September, the company had already raised ₹290 crore in the initial phase of its Series C funding. Jain noted that the majority of this investment is primary fundraising, with some secondary funding allowing early investors to make partial exits.
Looking ahead, Flexiloans plans to introduce dealer financing and secured financing products within the next 12 to 18 months. Currently, nearly 90% of the company’s revenue is generated from its existing offerings, which include equated monthly instalments (EMI) based term loans and vendor financing within the supply chain. Additionally, Flexiloans is set to launch insurance products tailored for its existing Micro, Small, and Medium Enterprises (MSME) clientele.
“Today, lending is our core product for MSMEs, but we plan to start cross-selling other financial services, such as insurance and similar offerings,” Jain explained. The company is exploring various insurance segments, including life and general insurance, with the aim of creating a comprehensive financial services suite for MSMEs.
Founded in 2016 by Jain, Ritesh Jain, and Manish Lunia, Flexiloans has been instrumental in providing financing solutions to small businesses, particularly in Tier 2 and Tier 3 cities. To date, the company has raised a total of ₹746 crore in equity and over ₹2,000 crore in debt.
**FAQ**
**What new services is Flexiloans planning to offer?**
Flexiloans is planning to enter two new lending segments and expand into insurance offerings for its MSME customers.
