Navi Finserv, Led by Sachin Bansal, Secures $38 Million from JP Morgan

Bengaluru-based lending startup Navi Finserv, led by Flipkart co-founder Sachin Bansal, has raised $38 million from JP Morgan in a significant securitisation deal. The funds will enhance Navi's digital lending operations.

This deal, structured as pass-through certificates (PTCs) backed by a pool of unsecured personal loans, is JP Morgan's first securitisation venture in India's personal loan space. PTCs offer interest payments to holders, making them attractive financial instruments.

“This deal endorses the quality of our loan portfolio and Navi's growth. We aim to strengthen our relationship with JP Morgan,” said Sachin Bansal, Executive Chairman and CEO of Navi Finserv.

Kaustubh Kulkarni, Senior Country Officer for India at JP Morgan, added, “This transaction aligns with our commitment to support India's innovation economy, marking our entry into the digital lending sector.”

Prior to this, Navi Finserv raised Rs 150 crore through private NCDs in May and Rs 525 crore from public NCDs in March. Navi predicts digital lending will make up 60% of the fintech market by 2030.