FlexiLoans
FlexiLoans is an online financing platform, based out of Mumbai, which provides unsecured working capital loans to small and medium sized businesses. It was founded in November 2015 and incorporated in 2016.
FlexiLoans’ lending process is completely online, with zero physical paperwork and seamless processing and disbursal within 48 hours. FlexiLoans uses proprietary credit scoring models and algorithms for its underwriting process, thus minimizing the time to disburse loans to its customers.
FlexiLoans has partnered with more than 40 national and regional platforms like Amazon, Flipkart, ShopClues, Snapdeal, PineLabs, FirstData, OYO and Jabong to extend loans and lines of credit to the vendors listed/associated with these platforms. In addition, it also extends its products directly through its site.
FlexiLoans has been featured in the list of ‘Top 100 Startups to Watch in India, 2017’ published by SutraHR, a premier executive search firm in India.
History
FlexiLoans has been founded by four Indian School of Business alumni from the batch of 2008-09.
- Deepak Jain, CA and ex-investment banker, a Vice President at Axis Capital (Former Enam Securities)
- Manish Lunia, CA and former Assistant Vice President at Aditya Birla Group‘s M&A unit
- Ritesh Jain, CA and former CFO of Housing and
- Abhishek Kothari, an IIT Bombay alumnus, and a data science professional, previously Vice President at Fractal Analytics (Europe) and Barclaycard (UK)
It raised Rs100 crores in October 2016 from industry stalwarts such as Sanjay Nayar, CEO, KKR; Vikram Sud, the former head of ops and technology at Citibank Asia Pacific; Anil Jaggia, Chief Information Officer, HDFC Bank, and Narayan Seshadri, ex-MD of KPMG’s advisory business. This was one of the largest first round by any Indian startup till date.
Acquisitions
In May 2017, FlexiLoans acquired CreditPeriod, a Mumbai-based supply chain financing platform to expand into the nascent and growing sector.