Interesting round, with many big profile participants and. As a part of this deal, EpiMoney, a non-banking finance company which was founded by Nayar, Sud and Sheshadri, will be acquiring stake in FlexiLoans which will be the product platform. With the incoming new capital, it is now planning to use the funds to enable FlexiLoans’ expansion and for further investment in its technology and marketing platform.
As compared to other startups, Finance technology companies have been able to outperform the slowdown in investments in the current market scenrio in India. With regard to that, FlexiLoans, an online lending platform, has today raised around $15 million(or Rs. 100 crore) in its latest funding round from a group of angel investors. In the current funding round, the company saw participation from a bunch of marquee investors including Sanjay Nayar, chief executive of KKR India, and Vikram Sud, former head of operations and technology at Citibank. Other investors who also poured in money includes Anil Jaggia, chief investment officer at HDFC Bank, and Narayan Seshadri, former managing director at KPMG’s advisory business. All the investors have invested in their personal capacity.