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<ul><li>Flexiloan.com has raised a whopping $90 million in a mix of debt and equity.</li><li>The company plans to use this capital to process loans worth ₹2,000 crore</li><li>It also claims to have access to over 10 million SMEs through its 50+ partners like Amazon, Flipkart, MSwipe, PineLabs, and others.<br /></li></ul>Digital lender Flexiloan.com on Tuesday announced that it has raised a whopping $90 million in a mix of debt and equity to process loans worth ₹1,500 crore- ₹2,000 crore ($190-$260 million) in the next 12 months. <br /><br />The Series B round was raised from marquee investors like Denmark-based private equity firm MAJ Invest, UK-based intact investor Fasanara Capital, the family offices of Dr Harry Banga and Yogesh Mahansaria. The company has been in talks for this round since last August and started signing term sheets in January, Deepak Jain, co-founder of Flexiloan.com, told Business Insider.<br /><br />Former chief executive officer (CEO) of Citigroup Sanjay Nayar — husband of Nykaa’s founder Falguni Nayar — also participated in the round, which included a debt infusion of ₹210 crore ($28 million). <br /><br />The company has raised ₹350 crore to date, which has been used for lending and investment in technology.<br /><br />The six-year-old startup plans to use this capital to scale its micro small and medium enterprises (SME) lending. It also plans to create a technological edge for its ‘Buy Now Pay Later’ (BNPL), supply chain and co-lending services. For this, the company plans to hire for the product and tech teams.<br /><br /><cmsannotation type="cmsannotation" annotationid="Achieving six year’s growth in the next 12 months" comment="subhead" text="Achieving six year’s growth in the next 12 months"><span data-til="noop">Achieving six year’s growth in the next 12 months</span></cmsannotation> <br /><br />Founded in 2016 by Deepak Jain, Ritesh Jain Manish Lunia and Abhishek Kothari, Flexiloan.com has disbursed over ₹1,700 crore ($200 million) to micro, small and medium enterprises (MSMEs) across 1,600 cities in India without any offline centers. The company now plans to issue loans upto ₹2,000 crore ($260 millions) —a little more than the loans it has disbursed since its inception — in the next 12 months.<br /><br />Deepak Jain noted that the company was disbursing loans worth ₹25 crore a month during pre-Covid days. The company managed to scale more than four-fold to disburse over ₹100 crore ($14 million) on a monthly basis, leading to an annual run rate of ₹1,200 crore ($160 million).<br /><br />“The $100 million will go to $150 by September and $200 million by March next year. If we are able to go at this pace, we should be able to disburse at least ₹1,500-₹2,000 crore this year. The run rates are improving over a period of time,” Jain explained. The Mumbai-based company now plans to double this run rate over the next year, with its co-lending platform contributing a significant share of growth. <br /><br />It also claims to have access to over 10 million SME through its 50+ partners like Amazon, Flipkart, MSwipe, PineLabs, and others.<br /><br />“We are impressed with <keyword id="3558137" type="General" weightage="20" keywordseo="flexiloans" source="Orion">FlexiLoans</keyword>’ vision, strong management team and solid technology platform for driving financial access to deserving Micro SMEs. Indian MSMEs are increasingly adopting digital tools and FlexiLoans’ technology and data science assets are a perfect match to seize this opportunity to deepen financial access where it's most needed" said David Paradiso, Partner - MAJ Invest.<br /><br />Asia Link Advisors and Axis Capital acted as advisors for the fund raise.<br /><br /><strong>SEE ALSO</strong><br /><a href="https://www.businessinsider.in/business/corporates/news/indian-corporates-made-a-full-comeback-with-111-billion-profits-but-the-same-cant-be-said-for-2023/articleshow/92033485.cms" style="">Indian corporates made a full comeback with $111 billion profits, but the same can’t be said for 2023</a><br /><a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/lic-stocks-if-you-want-to-predict-this-stock-prices-look-how-the-stock-market-moves/articleshow/92040939.cms">If you want to predict LIC stock prices, look how the stock market moves</a><br /><a href="https://www.businessinsider.in/business/auto/news/tata-motors-bags-indias-biggest-ev-fleet-order-from-cab-company-blusmart/articleshow/92035478.cms">Tata Motors bags India’s biggest EV fleet order from cab company BluSmart</a><br />

FlexiLoans.com bags $90 million to cover six years’ of journey in one year

<ul><li>The equity funding round was led entirely by the Falguni and <keyword id="6379795" type="PERSON" weightage="20" keywordseo="sanjay-nayar">Sanjay Nayar</keyword> Family Office, the investment arm of Nykaa founder <keyword id="6379793" type="PERSON" weightage="20" keywordseo="falguni-nayar">Falguni Nayar</keyword> and her investment banker husband, Sanjay Nayar.</li><li>With the latest funding, <keyword id="3558137" type="PERSON" weightage="20" keywordseo="FlexiLoans">FlexiLoans</keyword> has raised a total of ₹500 crore in equity and debt funding so far.</li><li>The startup was founded in 2016 by graduates of Indian School of Business Abhishek Kothari, Deepak Jain, Manish Lunia, and Ritesh Jain.</li></ul>Indian <keyword id="6618634" type="UNKNOWN" weightage="20" keywordseo="lending-startup">lending startup</keyword> FlexiLoans has raised ₹150 crore in a mix of equity and debt funding. The equity funding round was led entirely by the Falguni and Sanjay Nayar Family Office, the investment arm of Nykaa founder Falguni Nayar and her investment banker husband Sanjay Nayar. Sanjay is the India head of American PE giant KKR. <br /><br />“FlexiLoans.com has one of the strongest fintech technology platforms with a right mix of strategy, business partnerships and underwriting processes to capitalize on the digital lending opportunity in India, especially in the post-COVID environment,” said a spokesperson from the Nayar Family Office. <br /><br />With the latest funding, FlexiLoans has raised a total of ₹500 crore in equity and debt funding. Founded in 2016 by graduates of Indian School of Business Abhishek Kothari, Deepak Jain, Manish Lunia, and Ritesh Jain, FlexiLoans now plans to scale up its SME lending, while also expanding its supply chain and co-lending verticals. <br /><br /><strong>FlexiLoans book</strong><br /><table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loans disbursed<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30,000+<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loanbook<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹800 crore <br /><br /></td></tr></tbody></table><br />“FlexiLoans.com is now poised to enter the next phase of its growth journey that we have clearly crafted on the lines of Profitability, Growth and Risk Control. We chose to accept this bid over other term sheets we had from a few institutional investors, given the long term nature of this capital,” said Deepak Jain, co-founder of FlexiLoans.com in a statement. <br /><br />The startup was also one of the four Indian startups to be named in the global ‘Emerging 50’ FinTechs, according to a report released by KPMG in collaboration with H2 Ventures. <br /><br /><strong>SEE ALSO:<br /><br /></strong><a href="https://www.businessinsider.in/business/startups/news/byju-raveendran-on-byjus-us-expansion-and-how-white-hat-jr-wont-just-be-about-coding-anymore/articleshow/78904109.cms"><strong>'India can provide teachers to the world, just like software engineers,' says Byju Raveendran as he plans to take his $11 billion edtech startup to US shores</strong></a><br />

FlexiLoans raises ₹150 crore in equity and debt funding – Falguni and Sanjay Nayar Family Office bets on the lending startup

<ul><li>It only took 60 days for the digital lending startup <keyword id="6557529" type="General" weightage="20" keywordseo="kreditbee" source="Orion">KreditBee</keyword> to issue 100,000 credit-based payments cards.</li><li>The company claims that its $2 billion loan book of 5.5 million users has set the pace of this growth.</li><li>KreditBee claims that the trigger for this card has been the consumption habits of its users.</li></ul>Credit-based payment cards are getting quite an uptick as people’s consumption habits have taken a turn towards all things digital. As more and more users are getting comfortable spending online, the lack of payment solutions is not helping in any way. <br /><br />This has pushed many Indian brands to roll out credit-based digital payment offering for customers to directly transact with the merchants. Over the last three months, PayU co-founder Nitin Gupta's Uni startup and Motilal Oswal-backed digital lending platform KreditBee have been trying to do just that.<br /><br />It only took 60 days for the digital lending startup KreditBee to issue 100,000 credit-based payments cards. Impressed by the short timeline of this milestone, the fintech startup is now aiming to issue a million such cards by the end of March 2022. It claims to be well within the pace to achieve this target. <br /><br />The company claims that they are adding about 5,000 users on a daily basis at the moment and that is the basis of the latest target.<br /><br />Madhusudan Ekambaram, co-founder and chief executive of KreditBee, told Business Insider that the company will issue another 120,000 such credit-based payment cards in the month of October.<br /><br />This will take the total tally to 220,000 since the launch of the card in August 2021. <br /><br />The card offers a limit of ₹10,000 and increases up to ₹1,00,000 based on know-your-customer (KYC). The customer has to repay the amount in 45 days.<br /><br />KreditBee — founded by Ekambaram and Karthikeyan K in May 2018 — is an instant personal loan platform for self-employed and salaried professionals. The company is backed by Mirae Asset-Naver Asia Growth Fund, PremjiInvest and others.<br /><br />Target audience for KreditBee<br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Criteria<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">What do they do?<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Set 1<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Self-employed and salaried individuals from Tier II and III cities. Employees of micro, small and medium enterprises (MSMEs).<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Set 2<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">People from metro cities who don’t have a banking history and are looking for convenience. <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Set 3<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New age gig workers — delivery persons of ecommerce companies or food aggregatory businesses whose salary majorly consists of incentives.<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody><tr id="last-child" class="last-child"><td contenteditable="false" colspan="3">Edit</td></tr></tbody></table>The company offers flexi-loans as well as personal loans starting from ₹1,000 to ₹2,00,000 to individuals and hosts several licensed non-banking financial companies (NBFC) to facilitate these.<br /><br />Ekambaram claims that KreditBee has given out loans ₹15,000 crore ($2 billion) in the short span of three years and has over 5.5 million credit users on their platform. The launch of these credit-based payment cards has been on the basis of consumption habits of these individuals. <br /><br />Therefore, the target audience for its lending business will be a target audience for these cards as well.<br /><br />KreditBee had found that most of its users were getting loans in order to buy consumer durables like a mobile phone, laptop, earphone and more. This pushed the fintech startup to test out a digital card that will allow its customers to directly buy products online.<br /><br />In addition, the card also allows KreditBee to interact with merchants directly and expand its data bank further. <br />                                                                          <div type="image" title="kreitbee revenue" msid="87161182" hostid="261"></div><br />The company’s profitability took a hit in the financial year 2021 due to COVID-19 pandemic, but it is back on track to report another profitable year, Ekambaram said.<br /><br /><cmsannotation type="cmsannotation" annotationid="Who else does KreditBee need to watch out for?" text="Who else does KreditBee need to watch out for?"><span data-til="noop">Who else does KreditBee need to watch out for?</span></cmsannotation><br /><br />Uni, which too offers digital credit-based payments cards, has issued over <a href="https://www.businessinsider.in/business/startups/news/only-3-in-100-indians-have-a-credit-card-this-former-payu-india-cofounder-is-hoping-to-change-that/articleshow/86089396.cms">50,000 customers to date and is adding over 1,000 new additions</a> on a daily basis. The company — launched last year and started operations in June 2021 — issues a special Visa 1/3 card, in partnership with RBL Bank and Mauritius-based SBM Bank, to its customers. <br /><br />This offering works pretty much like a credit card, but divides all of the customers transactions into three installments that have to be repaid over a period of three months without any interest. The recently launched company aims to issue a million cards by the end of March 2022. It will be looking to launch physcial credit card by November 2021.<br /><br />Fintech startup One Card has also recently partnered with Federal Bank to launch its mobile phone-based credit card. Meanwhile, Mastercard is <a href="https://www.nytimes.com/2021/09/28/business/mastercard-buy-now-pay-later.html">experimenting</a> with the buy now, pay later option to allow shoppers to style their payments in four installments. <br /><strong><br />SEE ALSO</strong><br /><a href="https://www.businessinsider.in/tech/enterprise/news/facebook-plans-to-rebrand-itself-to-a-metaverse-company-with-a-new-name/articleshow/87150303.cms">Facebook plans to rebrand itself to a metaverse company with a new name</a><br /><br /><a href="https://www.businessinsider.in/stock-market/news/ril-jubilant-foodworks-bajaj-auto-and-other-stocks-to-watch-out-for-on-october-20/slidelist/87148904.cms">RIL, Jubilant Foodworks, Bajaj Auto and other stocks to watch out for on October 20</a><br />

This Motilal Oswal-backed startup is planning to issue a million credit-based cards in the next 150 days relying on the $2 billion worth loans it disbursed

<ul><li>The company is moving in the right direction in terms of growing sales and expected to reach EBITDA breakeven soon</li><li><keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> is among the worst performers of 2022 so far as the stock has slipped 53% during the period.</li><li>Analysts at JP Morgan expect the share price to jump significantly by 60% to ₹1,000 per share.</li></ul>While Paytm is still struggling to make profits or even deliver positive returns to its shareholders, a brokerage firm believes that it will soon reach its breakeven with moderate expenses. <br /><br />Analysts at JP Morgan believe sustained improvement in the profit margins in the last two quarters at 35%, have set the stage. In the fourth quarter of last year, its profit margins stood at a healthy 35%. <br /><br />“We believe a sustained improvement in the profit margin contribution at PayTM seen over the last two quarters sets the stage for operating leverage Q2F23 onwards as indirect costs moderate - resulting in a consistent downtrend in adjusted EBITDA loss and an eventual path to breakeven,” said a report by JP Morgan. <br /><br />The company has been making losses for 11 years since its inception, and like most startups its acquisition costs have been high. However, most startup investors concentrate on unit economics — and improving profit margins which shows that its business can yield money, is comforting to its many nervous shareholders. <br /><br />In 2022, the Noida-based fintech company is among the worst stock performers as it slipped 53%. But the tide seems to be turning albeit slowly as per the brokerage firm. <br /><br />After a period of restriction, it reinstated an ‘overweight’ rating on the stock, and sees the share price increase by 60% to ₹1,000 per share. <br /><br />While the lending business is growing gradually, the losses in the segment indicate contained delinquencies in buy now pay later (BNPL) and merchant loans. <br /><br />“Lending business scale up, an increased contribution from devices and credit card sourcing should result in consistent quarterly improvement in contribution profits which should touch near 40% by the fourth quarter of 2023. A reduction in the adjusted EBITDA loss with better cost controls in indirect expenses will be a key fundamental stock driver,” said the report.<br /><br />Paytm also partnered with scheduled commercial banks and NBFCs to offer collateral-free instant loans of up to ₹5 lakh at low-interest rates and also offers a unique daily EMI product customized for small merchants.<br /><br /><strong>End of tunnel for high expenses on employee cost<br /></strong>Paytm has been spending a large chunk of revenue in hiring professionals and in marketing expenses. Now that most of the roll out of employees is done, the indirect cost of employee hiring should start to moderate from July-September FY23. <br /><br />Reduction in costs is also a key factor in its path to profitability. Most startups end up spending heavily on customer acquisition as well as marketing. But Paytm has gained a market share of 15% in a very crowded market. It is now a recognizable brand – which can now aid its path to profitability. <br /><br />Paytm’s net loss widened by over 70% to ₹763 crore as expenses ate into its topline growth in Jan-Mar quarter 2022. <br /><br />However, not all brokerages share JP Morgan’s enthusiasm for the stock. “The business trajectory is admirable, but it’s still a long way to go for Paytm to turn profitable,” said YES Securities after March quarter earnings — and maintained its ‘reduce’ rating with a target price of ₹580 per share. <br />  <div type="image" title="paytm (1)" height="900" width="1200" msid="92054936" hostid="261"></div><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/retail/e-commerce/news/tataneu-could-be-worth-15-billion-all-thanks-to-bigbasket-croma-and-westside/articleshow/92052094.cms">TataNeu could be worth $15 billion all thanks to BigBasket, Croma and Westside</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/startups/news/flexiloans-com-bags-90-million-to-cover-six-years-of-journey-in-one-year/articleshow/92041187.cms">FlexiLoans.com bags $90 million to cover six years’ of journey in one year</a>

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FlexiLoans.com bags $90 million to cover six years’ of journey in one year

Kritti Bhalla

FlexiLoans raises ₹150 crore in equity and debt funding – Falguni and Sanjay Nayar Family Office bets on the lending startup

Sanchita Dash

This Motilal Oswal-backed startup is planning to issue a million credit-based cards in the next 150 days relying on the $2 billion worth loans it disbursed

Kritti Bhalla

PayTM could be entering a low cost-high profit margin regime, say a brokerage firm

Bhakti Makwana

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