Navi Technologies Secures INR 170 Cr in Debt Funding PhillipCapital contributed INR 120 crore, while NDX Finserve, Aarpee Group, Ambit Finvest, and Grey Grass India Pvt Ltd invested INR 10 crore each.
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Fintech unicorn Navi Technologies has raised INR 170 crore (approx. USD 20 million) through a debt funding round led by PhillipCapital, with participation from NDX Finserve, Aarpee Group, Ambit Finvest, and others.
According to regulatory filings with the Registrar of Companies, Navi Technologies allotted 1,700 non-convertible debentures at a face value of INR 10,00,000 each to secure the funds. PhillipCapital contributed INR 120 crore, while NDX Finserve, Aarpee Group, Ambit Finvest, and Grey Grass India Pvt Ltd invested INR 10 crore each. Additional contributions came from RaviDyewear, Siddharth Colorchem, and Nahar Capital.
Founded in 2018 by Sachin Bansal and Ankit Agarwal, Navi operates a technology-led financial services platform offering personal and home loans via Navi Finserv, an RBI-registered non-banking financial company. Its portfolio also includes mutual funds, health insurance, and UPI-based payment services through Navi UPI.
Earlier this year, Navi appointed Rajiv Naresh as CEO of Navi Technologies and Abhishek Dwivedi as CEO of Navi Finserv. Bansal transitioned to Executive Chairman of Navi Group, focusing on long-term strategy.
For the financial year ending March 2024, Navi reported a 37 percent rise in revenue from operations to INR 2,290 crore, compared to INR 1,667 crore in FY23. Profits surged nearly 17 times to INR 358.5 crore during the same period.
As of June 2025, Navi ranked fourth among UPI applications, facilitating 406 million transactions with a total value of INR 21,815 crore, underscoring its growing presence in the digital payments ecosystem.
