Navi Finserv Secures $24.5 Million Loan from Goldman Sachs
Mumbai, India – Navi Finserv, a leading RBI-registered Non-Banking Financial Company (NBFC), has successfully closed a loan securitization transaction with Goldman Sachs (India) Finance Private Limited, marking the seventh multinational bank to partner with the company.
The $24.5 million transaction follows a $38 million securitization deal with J.P. Morgan earlier this year, showcasing Navi Finserv’s growing credibility in the financial sector. The latest deal is structured through pass-through certificates rated IND AA (SO) by India Ratings, backed by a pool of unsecured personal loans managed by Navi Finserv.
Funds to Fuel Expansion and Customer Service
The secured funds will support Navi’s mission to simplify access to finance, enhance its operations with robust underwriting practices, and broaden financial inclusion by providing seamless credit and exceptional customer service. The company’s vision is to make finance more accessible and user-friendly for individuals, aligning with the country’s aspirations for a more inclusive fintech ecosystem.
Rapid Growth and Expansion
Founded in 2018 by Sachin Bansal and Ankit Agarwal, Navi Finserv has witnessed a significant growth trajectory in the financial sector. The company has reported a substantial increase in revenue from operations, from Rs 1,238 crore in FY23 to Rs 1,906 crore in FY24, as per its standalone financial statements. Notably, the company’s net profits stood at Rs 668 crore, mainly driven by gains from the sale of its subsidiary.
Enhancing Financial Access
Navi Finserv’s commitment to financial inclusion and access to credit has led to the development of innovative products and services that cater to the diverse needs of customers. With this securitization deal, the company is well-positioned to accelerate its plans to expand its customer base, enhance its operational capacity, and drive growth while maintaining its focus on customer-centricity and financial responsibility.
