Chinmay Bidkar
7 October 2016, India :
Digital lending platform Flexiloans has received Rs. 100 crore equity from Sanjay Nayar, chief executive at PE firm KKR, along with other veterans of the investment and banking industry such as Vikram Sud, Anil Jaggia, Narayan Seshadri in their personal capacity as per The Hindu report.
“Such a digital platform would fill a much-needed service to underserved SMEs and consumers in India,” said Nayar, who manages nearly $5 billion of investments in global buyout giant KKR & Co’s India portfolio through various instruments including private equity, structured finance and real estate investments.
The funds will be utilized for business expansion and for further investment in its technology and marketing platform.
As per the terms of the deal, EpiMoney, a non-banking finance company founded by Nayar, Sud and Sheshadri, will be acquiring stake in FlexiLoans which will be the product platform.
FlexiLoans is founded by four Indian School of Business alumni -Deepak Jain,, Manish Lunia, Ritesh Jain and Abhishek Kothari. Source- The Hindu Businessline