Navi Secures Capital, Fuels Fintech Ambition in India
July 30, 2025, 9:36 am
Sachin Bansal's Navi Technologies, a prominent Indian fintech, recently secured Rs 170 crore in debt funding. This significant capital infusion, led by PhillipCapital, will bolster its expansive digital finance operations. Navi provides a wide array of services: personal loans, home loans, health insurance, mutual funds, and a leading UPI payment platform. The firm, co-founded by Flipkart's visionary Sachin Bansal, demonstrated robust financial health in FY24. It recorded substantial revenue and profit, navigating past regulatory challenges, including a temporary lending halt by the RBI. Navi holds a strong position in India's competitive UPI market, ranking among the top applications by transaction volume. This strategic funding round underscores investor confidence in Navi's growth trajectory and its mission to democratize financial access across India. The company continues to solidify its footprint in the rapidly evolving fintech landscape, pushing innovation and expanding its reach. Leadership changes, with Bansal moving to Executive Chairman, reflect evolving strategic priorities. Navi aims for broader market penetration and enhanced product offerings. This financial maneuver positions Navi for continued expansion and market leadership.
Navi Technologies, the innovative Indian fintech venture led by Flipkart co-founder Sachin Bansal, has successfully raised Rs 170 crore. This substantial capital comes via a debt funding round. PhillipCapital spearheaded the investment. It contributed Rs 120 crore. Other investors included NDX Financial Services, Arpee Commercial Company, Ambit Finvest, and Grey Grass India. Each contributed Rs 10 crore. Siddharth Colorchem, Ravi Dyeware Company, and Nahar Capital and Financial Services supplied the remaining funds.
This debt financing utilized Non-Convertible Debentures (NCDs). NCDs are long-tenure, fixed-income instruments. Large corporations use them for public fundraising. The Bengaluru-based company's board approved the allotment of 1,700 NCDs. Each carried a face value of Rs 10 lakh. This strategic move strengthens Navi’s financial backbone. It supports its aggressive growth plans.
Navi offers a comprehensive suite of financial services. Its group entities, Navi Finserv and Navi Technologies, drive these offerings. Navi Finserv focuses on lending. It provides personal loans and home loans. Navi Technologies handles other digital services. These include health insurance, mutual funds, and its popular UPI payment platform, Navi UPI. This broad portfolio targets India's massive and underserved financial market.
The company has shown impressive financial performance. For the financial year ending March 2024 (FY24), Navi Technologies reported revenue of Rs 2,812 crore. This marked a significant increase from Rs 1,684 crore in FY23. Net profit for FY24 stood at Rs 169 crore. These figures reflect strong operational efficiency and market acceptance.
Navi's journey has faced regulatory scrutiny. In October 2024, the Reserve Bank of India (RBI) directed Navi Finserv, among other non-banking financial companies (NBFCs), to halt loan sanctioning and disbursement. The RBI cited "material supervisory concerns." These included excessive loan pricing. However, swift action by Navi led to a resolution. In December, the RBI lifted these restrictions. This demonstrated Navi’s commitment to compliance and corrective measures. The temporary setback did not derail its long-term trajectory.
The company's lending arm, Navi Finserv, also showed growth. Its revenue from operations rose 19.1% year-on-year in FY25. Total revenue reached Rs 2,271 crore from Rs 1,906 crore in FY24. Interest income climbed 23% to Rs 1,981 crore. This occurred despite the regulatory pause. Profit after tax (PAT) for Navi Finserv in FY25 was Rs 222 crore. This was a decrease from Rs 669 crore in FY24. However, the prior year’s earnings included a significant one-time gain of Rs 704.06 crore. This gain resulted from the sale of its subsidiary, Chaitanya India Fin Credit, in November 2023. Excluding this one-off event, core profitability faced some pressure. Impairment charges on financial instruments, a proxy for loan loss provisions, increased 16.8% year-on-year. Finance costs also rose 21.1%. Employee benefit expenses were up 15.1%. Despite these cost increases, the underlying business continued its expansion.
Sachin Bansal's strategic vision guides Navi. He co-founded Flipkart in 2007. After Walmart acquired Flipkart in 2018, Bansal invested heavily in building Navi. He founded the company in 2016. Earlier this year, Bansal announced a transition. He moved into the role of Executive Chairman of Navi Group. This includes Navi Finserv and Navi Technologies. He previously served as CEO of both entities. This leadership restructuring brought new talent. Abhishek Dwivedi was appointed CEO of Navi Finserv. Rajiv Naresh assumed the CEO role for Navi Technologies. This restructuring aims to streamline operations and accelerate growth.
Navi holds a significant position in India’s digital payments ecosystem. As of June 2025, Navi was the fourth-largest UPI app in the country. It facilitated 406 million transactions. These transactions amounted to Rs 21,814.5 crore in value. This strong performance highlights its widespread adoption and user trust. The UPI platform is crucial for India’s digital economy. Navi’s prominence here underscores its market relevance.
The company previously pursued an Initial Public Offering (IPO). It filed for an IPO and secured regulatory approval from SEBI in late 2022. However, it did not proceed with the listing. This indicates a strategic decision to focus on internal growth and private funding rounds. Navi was also in talks to raise an external funding round at a valuation of around $2 billion in April 2024. In February, it had announced plans to raise Rs 600 crore through NCDs. Prior to the latest issuance, Navi raised around Rs 950 crore through NCDs last year, across two tranches.
This recent Rs 170 crore debt infusion reinforces Navi's financial strength. It validates its business model. The capital will fuel expansion plans. It supports continued innovation in digital financial services. Navi Technologies remains a key player. It aims to reshape India's fintech landscape. Its growth trajectory signals a robust future.
Navi Technologies, the innovative Indian fintech venture led by Flipkart co-founder Sachin Bansal, has successfully raised Rs 170 crore. This substantial capital comes via a debt funding round. PhillipCapital spearheaded the investment. It contributed Rs 120 crore. Other investors included NDX Financial Services, Arpee Commercial Company, Ambit Finvest, and Grey Grass India. Each contributed Rs 10 crore. Siddharth Colorchem, Ravi Dyeware Company, and Nahar Capital and Financial Services supplied the remaining funds.
This debt financing utilized Non-Convertible Debentures (NCDs). NCDs are long-tenure, fixed-income instruments. Large corporations use them for public fundraising. The Bengaluru-based company's board approved the allotment of 1,700 NCDs. Each carried a face value of Rs 10 lakh. This strategic move strengthens Navi’s financial backbone. It supports its aggressive growth plans.
Navi offers a comprehensive suite of financial services. Its group entities, Navi Finserv and Navi Technologies, drive these offerings. Navi Finserv focuses on lending. It provides personal loans and home loans. Navi Technologies handles other digital services. These include health insurance, mutual funds, and its popular UPI payment platform, Navi UPI. This broad portfolio targets India's massive and underserved financial market.
The company has shown impressive financial performance. For the financial year ending March 2024 (FY24), Navi Technologies reported revenue of Rs 2,812 crore. This marked a significant increase from Rs 1,684 crore in FY23. Net profit for FY24 stood at Rs 169 crore. These figures reflect strong operational efficiency and market acceptance.
Navi's journey has faced regulatory scrutiny. In October 2024, the Reserve Bank of India (RBI) directed Navi Finserv, among other non-banking financial companies (NBFCs), to halt loan sanctioning and disbursement. The RBI cited "material supervisory concerns." These included excessive loan pricing. However, swift action by Navi led to a resolution. In December, the RBI lifted these restrictions. This demonstrated Navi’s commitment to compliance and corrective measures. The temporary setback did not derail its long-term trajectory.
The company's lending arm, Navi Finserv, also showed growth. Its revenue from operations rose 19.1% year-on-year in FY25. Total revenue reached Rs 2,271 crore from Rs 1,906 crore in FY24. Interest income climbed 23% to Rs 1,981 crore. This occurred despite the regulatory pause. Profit after tax (PAT) for Navi Finserv in FY25 was Rs 222 crore. This was a decrease from Rs 669 crore in FY24. However, the prior year’s earnings included a significant one-time gain of Rs 704.06 crore. This gain resulted from the sale of its subsidiary, Chaitanya India Fin Credit, in November 2023. Excluding this one-off event, core profitability faced some pressure. Impairment charges on financial instruments, a proxy for loan loss provisions, increased 16.8% year-on-year. Finance costs also rose 21.1%. Employee benefit expenses were up 15.1%. Despite these cost increases, the underlying business continued its expansion.
Sachin Bansal's strategic vision guides Navi. He co-founded Flipkart in 2007. After Walmart acquired Flipkart in 2018, Bansal invested heavily in building Navi. He founded the company in 2016. Earlier this year, Bansal announced a transition. He moved into the role of Executive Chairman of Navi Group. This includes Navi Finserv and Navi Technologies. He previously served as CEO of both entities. This leadership restructuring brought new talent. Abhishek Dwivedi was appointed CEO of Navi Finserv. Rajiv Naresh assumed the CEO role for Navi Technologies. This restructuring aims to streamline operations and accelerate growth.
Navi holds a significant position in India’s digital payments ecosystem. As of June 2025, Navi was the fourth-largest UPI app in the country. It facilitated 406 million transactions. These transactions amounted to Rs 21,814.5 crore in value. This strong performance highlights its widespread adoption and user trust. The UPI platform is crucial for India’s digital economy. Navi’s prominence here underscores its market relevance.
The company previously pursued an Initial Public Offering (IPO). It filed for an IPO and secured regulatory approval from SEBI in late 2022. However, it did not proceed with the listing. This indicates a strategic decision to focus on internal growth and private funding rounds. Navi was also in talks to raise an external funding round at a valuation of around $2 billion in April 2024. In February, it had announced plans to raise Rs 600 crore through NCDs. Prior to the latest issuance, Navi raised around Rs 950 crore through NCDs last year, across two tranches.
This recent Rs 170 crore debt infusion reinforces Navi's financial strength. It validates its business model. The capital will fuel expansion plans. It supports continued innovation in digital financial services. Navi Technologies remains a key player. It aims to reshape India's fintech landscape. Its growth trajectory signals a robust future.