Debt financing
Sachin Bansal-led fintech co. Navi raises Rs.170-Cr via NCDs led by PhillipCapital
Sachin Bansal-promoted, Bengaluru-based fintech firm Navi Technologies has raised INR 170 crore (USD 20 million) through the issue of 1,700 non-convertible debentures (NCD). The round was led by PhillipCapital (INR 120 crore) with participation from NDX Finserve, Arpee Group, Ambit Finvest, and Grey Grass India (INR 10 crore each) and RaviDyewear, Siddharth Colorchem, and Nahar Capital investing the rest.Founded in 2018 by Sachin Bansal and Ankit Agarwal, Navi provides personal loans, home loans, UPI, Insurance, mutual funds, and other financial products.
Between Jan-20 and Apr-20, Navi Technologies had attracted about USD 57.28-M from IFC, Gaja Capital.For FY24, Navi had reported about INR 2,812.72 Cr in Operating Income and about INR 358.55 Cr in PAT.
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