Navi Finserv, a non-banking finance company raised Rs 150 crore through NCDs from six investors. The  startup will use this funding amount to enhance its products and improve its technical capabilities and  market expansion. 

The investors who participated in the funding round include Dadachanji Group’s chairman Kairus  Shavak Dadachanji, Rishad Kairus, and Pervin Kairus Dadachanji led the round by Rs 110 crore. Other  investors including Rohit, Sandhya, and Yash Kapadia invested a total amount of Rs 40 crore. NCD acts as an instrument to offer fixed income which helps companies to raise funds without increasing  interest rates. In February the startup announced plans to raise funds of Rs 600 crore through NCD  with tenor of 18, 27, and 36 months. However, due to unfavorable market conditions, they had to  move the plan back.  

ET reported that the funding round for this year’s quarter has been completed. Navi Finserv previously  raised around Rs 950 crore through two tranches in NCDs. The company was aiming for $200 million  to $300 million from private investors with a $2 billion valuation. The startup aims to make financial  services simple, transparent, and accessible to all. This fintech startup uses a technology-driven and  customer-centric approach to launch products in the financial services space. 

The startup is a non-banking finance money lending platform. Navi Finserv has recently approved a  financial decision to increase its capital structure and expand its technical capabilities. This finance based startup is planning to scale up its operations, enhancing its technologies and research centers. The funding round for this year’s quarter has been completed. The startup previously raised around Rs  950 crore through two tranches in NCDs. 

Conclusion: 

A fintech startup, Navi Finserv has raised Rs 150 crore through NCDs from six investors. NCD acts as an instrument to offer fixed income which helps companies to raise funds without increasing interest  rates. The funding round saw participation from its existing investors including Dadachanji Group’s  chairman Kairus Shavak Dadachanji, Rishad Kairus, and Pervin Kairus Dadachanji. They led the round  by Rs 110 crore. The company has delivered consistent service levels, improved profitability, and  completed more than half of the planned long-term capital investments. The funding round for this  year’s quarter has been completed.

Navi Finserv previously raised around Rs 950 crore through two  tranches in NCDs. NCD acts as an instrument to offer fixed income which helps companies to raise  funds without increasing interest rates. In February the startup announced plans to raise funds of Rs  600 crore through NCD with tenor of 18, 27, and 36 months.

They mentioned that with the investment  made, they will try to solidify their position as a leader in the fintech sector. The startup is working to  enhance its platform, scale up its existing segments, and expand in the fintech sector. Fintech startups  lead the list this week with the total funding amount gained by startups in this sector reported to be  $33.1 million across three deals.