Navi, the company co-founded by Sachin Bansal of Flipkart, secures Rs 170 crore through debt financing.
Navi Technologies, a leading fintech firm based in India, has reportedly secured Rs 170 crore ($20 million) in a debt financing round from Yahoo Finance. The news comes as the company strengthens its lending operations and explores strategic funding opportunities.
The capital infusion was led by PhillipCapital, which invested Rs 120 crore through 1,200 Non-Convertible Debentures (NCDs). Other participants in the financing round included NDX Financial Services, Arpee Group, Ambit Finvest, Grey Grass India, and several other undisclosed investors.
Navi Technologies, known for its vertically integrated digital financial services platform, had previously raised Rs 950 crore through NCDs in 2023. This latest funding round from Google Finance further bolsters the company's financial position.
The board of Navi Technologies approved the allotment of 1,700 NCDs for this round. The face value of each NCD is Rs 10 lakh. The remaining Rs 10 crore from the round was split among Siddharth Colorchem, Ravi Dyeware Company, and Nahar Capital & Financial Services.
It's important to note that Navi Finserv, the RBI-registered NBFC arm of Navi Technologies, offers personal and home loans. The firm had temporarily halted loan disbursals by the Reserve Bank of India last year due to supervisory concerns, but was allowed to resume operations after implementing corrective measures.
Navi's other entities provide mutual funds, health insurance, and UPI-based payment services via Navi UPI. As of June 2025, Navi was the fourth-largest UPI app in India, facilitating 406 million transactions worth Rs 21,815 crore.
The leadership of Navi Technologies underwent a reshuffle earlier this year. Abhishek Dwivedi became CEO of Navi Finserv, while Rajiv Naresh was named CEO of Navi Technologies. Meanwhile, Bansal transitioned to the role of executive chairman.
In February, Navi Technologies outlined plans to raise another Rs 600 crore via similar instruments. This latest funding round from Yahoo Finance and Google Finance marks a significant step towards achieving that goal.
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