Team Startupcity

·  Navi Finserv raised  Rs 150 crore, not  Rs 170 crore as initially reported.

·  PhillipCapital led the round with an infusion of  Rs 120 crore (~$14 million).

·  Other contributors, including NDX Finserve and Aarpee Group, invested  Rs 10 crore each.

Navi Technologies, a fintech unicorn started by Ankit Agarwal and Sachin Bansal, raised  Rs 150 crore (~$20 million) in debt funding with PhillipCapital leading the investment, joined by NDX Finserve, Aarpee Group, Ambit Finvest, Grey Grass India Pvt Ltd, and others.

As per regulatory filings accessed through the Registrar of Companies (RoC), Navi Finserv, a RBI-registered NBFC and lending subsidiary of Navi, issued 1,700 non-convertible debentures (NCDs) of face value  Rs 10 lakh each by way of private placement in order to raise this capital.

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Established in 2018, Navi Finserv provides personal loans, home loans, and a full-stack digital platform with mutual fund services, health insurance, and UPI-based payment solutions through its Navi UPI app. Recent this year, Navi named Abhishek Dwivedi as CEO of Navi Finserv and Rajiv Naresh as CEO of Navi Technologies, while co-founder Sachin Bansal remains Executive Chairman.

Financially, Navi has shown strong growth. In FY24, its operating revenue increased 37% to  Rs 2,290 crore (up from  Rs 1,667 crore in FY23), while net profit increased 17X to  Rs 358.5 crore, according to its consolidated statements.

Up to June 2025, Navi is the fourth largest UPI app in India, having registered 406 million transactions of  Rs 21,815 crore.