Digital lending company FlexiLoans Technologies, which operates flexiloans.in, has raised Rs 100 Crs in angel funding from a group of marquee investors including Sanjay Nayar, chief executive of KKR India, Vikram Sud, former head of operations and technology at Citibank, Anil Jaggia, chief investment officer at HDFC Bank and Narayan Seshadri, former managing director at KPMG’s advisory business.
The funding will be used for FlexiLoans’ expansion and for further investment in its technology and marketing platform, its founders said. As per the terms of the deal, EpiMoney, a non-banking finance company founded by Nayar, Anil, Sud and Sheshadri, will be acquiring stake in FlexiLoans, which will be the product platform.
Flexiloans was founded by Ritesh Jain, a former chief financial officer at Housing.com, Manish Lunia and Deepak Jain in January this year. The startup gives loans to SMEs.