“Can an alternative-data NBFC become the default digital credit rail for India's underserved MSMEs?”
FlexiLoans, operated by RBI-registered NBFC Epimoney Private Limited, was founded in 2016 to address the funding gap for Indian MSMEs whose loan proposals are rejected by traditional banks due to thin financial history or lack of collateral. The company built an in-house, alternative-data credit underwriting engine and now offers term loans, vendor/supply chain finance, loan against POS (merchant cash advance equivalent), and partner-channel lending across 2,100+ cities. It distributes both directly and via API/partner-portal integrations with ecosystem platforms — positioning itself as one of India's top digital MSME NBFCs.
FlexiLoans's lending and capital products are provided by Epimoney Private Limited (in-house NBFC).
FlexiLoans connects to bank accounts through Account Aggregator framework (RBI).
The Embedded Finance Index 2026 maps 2 layers in FlexiLoans's stack: Lending (Epimoney Private Limited (in-house NBFC), Term Loan, Vendor Financing, Supply Chain Finance (Dealer Financing) and 3 others); Open banking (Account Aggregator framework (RBI)).
FlexiLoans was founded by Deepak Jain, Ritesh Jain and Manish Lunia and is founded in 2016, headquartered in Mumbai, Maharashtra, India.
FlexiLoans has raised $76.6M+ equity, $240.9M+ debt (as of 2024); Series C extended to ~$77.8M in 2025 in total (latest round: Series C extension, June 2025).
Get a read on where your own stack stands against FlexiLoans and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.