News

Navi Technologies Raises ₹170 Cr in Debt Funding Round Led by PhillipCapital

• ByStartupStory     |    July 29, 2025

 

Fintech unicorn Navi Technologies has secured ₹170 crore (~$20 million) in a fresh debt funding round led by PhillipCapital, with participation from NDX Finserve, Arpee Group, Ambit Finvest, and others. The fundraising was facilitated through the allotment of 1,700 non-convertible debentures (NCDs) at a face value of ₹10 lakh each, according to the company’s recent filing with the Registrar of Companies (RoC).

PhillipCapital led the round with a ₹120 crore investment (~$14 million), while NDX Finserve, Arpee Group, Ambit Finvest, and Grey Grass India Pvt Ltd invested ₹10 crore each. Additional contributions came from RaviDyewear, Siddharth Colorchem, and Nahar Capital.

Founded in 2018 by Sachin Bansal and Ankit Agarwal, Navi operates as a technology-first financial services platform, delivering personal and home loans through its wholly owned subsidiary Navi Finserv, an NBFC registered with the RBI. The company also offers mutual funds, health insurance, and UPI-based payment services via Navi UPI.

Earlier this year, Navi underwent key leadership changes with Rajiv Naresh appointed as CEO of Navi Technologies and Abhishek Dwivedi as CEO of Navi Finserv. Sachin Bansal transitioned to Executive Chairman of the group, focusing on long-term strategic direction.

For the financial year ending March 2024, Navi’s revenue from operations surged by 37% to ₹2,290 crore, up from ₹1,667 crore in FY23. Notably, the company’s net profit rose nearly 17-fold to ₹358.5 crore, reflecting improved profitability and operational efficiency.

In the rapidly evolving UPI ecosystem, Navi has gained substantial traction. As of June 2025, it ranks fourth among top UPI apps in India, recording 406 million transactions amounting to ₹21,815 crore in transaction value.

The latest capital infusion is expected to support Navi’s lending operations and further strengthen its financial services infrastructure, as the company continues its expansion across India’s competitive fintech landscape.

Follow Startup Story