Sachin Bansal's Navi raises ₹170cr in debt funding
What's the story
Fintech unicorn Navi Technologies has raised ₹170 crore ($20 million) in a debt funding round. The investment was led by PhillipCapital, with contributions from NDX Finserve, Arpee Group, Ambit Finvest, and Grey Grass India Pvt Ltd. Other investors included RaviDyewear, Siddharth Colorchem, and Nahar Capital through non-convertible debentures. PhillipCapital led the round with an investment of ₹120 crore (approximately $14 million).
Business model
Navi's business and offerings
Founded in 2018 by Sachin Bansal and Ankit Agarwal, Navi Technologies is a tech-enabled, customer-centric financial services platform. The company offers a wide range of products, such as personal loans and home loans through Navi Finserv, a Reserve Bank of India (RBI)-registered Non-Banking Financial Company (NBFC). It also provides mutual funds, health insurance, and UPI payments via Navi UPI.
Information
Key leadership changes at Navi
Earlier this year, Navi Technologies made some key leadership changes. Rajiv Naresh was appointed as CEO of Navi Technologies, and Abhishek Dwivedi as CEO of Navi Finserv. Meanwhile, Sachin Bansal transitioned to Executive Chairman of the Navi Group, continuing to steer its strategic direction.
Revenue growth
Company's FY24 financials
For the fiscal year ending March 2024, Navi Technologies reported a 37% increase in revenue from operations to ₹2,290 crore. This was up from ₹1,667 crore in FY23, according to its consolidated financial statements. The company's profit also saw a massive jump of 17 times to ₹358.5 crore during this period. As of June 2025, Navi is the 4th largest UPI app, recording 406 million transactions worth ₹21,815 crore.