Navi secures ₹170 crore in debt funding led by PhillipCapital
Navi Technologies just secured ₹170 crore in debt funding, with PhillipCapital leading the round by putting in ₹120 crore.
Other backers include NDX Finserve, Aarpee Group, Ambit Finvest, and Grey Grass India Pvt Ltd, with additional contributions from RaviDyewear, Siddharth Colorchem, and Nahar Capital through non-convertible debentures.
Navi offers digital financial services
Started in 2018 by Sachin Bansal and Ankit Agarwal, Navi offers digital financial services—think personal loans, home loans (via Navi Finserv), mutual funds, health insurance, and UPI payments.
The company recently brought in Rajiv Naresh as CEO of Navi Technologies and Abhishek Dwivedi as CEO of Navi Finserv, while Bansal now focuses on big-picture strategy as Executive Chairman.
FY24 revenue jumped 37% to ₹2,290 crore
In FY24, Navi's revenue jumped 37% to ₹2,290 crore and profits shot up 17 times to ₹358.5 crore.
As of June 2025, it's India's fourth-largest UPI app with over 406 million transactions worth nearly ₹22,000 crore—showing just how fast it's growing in digital payments.