Navi Technologies, the fintech unicorn founded by Sachin Bansal and Ankit Agarwal, has raised ₹170 crore (approximately $20 million) through a debt funding round led by PhillipCapital, with additional backing from NDX Finserve, Arpee Group, and others. According to a regulatory filing with the Registrar of Companies (RoC), the funding was secured via the allotment of 1,700 non-convertible debentures (NCDs) at a face value of ₹10 lakh each by its lending arm, Navi Finserve. PhillipCapital contributed the largest share with ₹120 crore, followed by ₹10 crore each from NDX Finserve, Aarpee Group, Ambit Finvest, and Grey Grass India Pvt Ltd. The rest came
from RaviDyewear, Siddharth Colorchem, and Nahar Capital.
Navi, an RBI-registered NBFC, offers a wide array of tech-led financial services including personal and home loans via Navi Finserve, and mutual funds, UPI payments, and health insurance through its broader ecosystem. This capital injection will likely support its ongoing lending and expansion goals.
Also Read: Tata 1mg’s Rise: How a Simple Idea Became India’s Trusted Digital Health Platform
