Navi Finserv, a non-banking finance company, raised Rs 150 crore through NCDs from six investors. The startup will use this funding to enhance its products, improve its technical capabilities, and expand its market. Here, we are talking about Fintech startup Navi Finserv raised RS 150 crore through NCDs.
Here, we are talking about Fintech startup Navi Finserv raised RS 150 crore through NCDs:
The investors who participated in the funding round include Dadachanji Group’s chairman, Kairus Shavak Dadachanji, Rishad Kairus, and Pervin Kairus Dadachanji, who led the round by Rs 110 crore. Other investors, including Rohit, Sandhya, and Yash Kapadia, invested 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, they had to move the plan back due to unfavorable market conditions.
ET reported that the funding round for this year’s quarter has been completed. The startup previously raised around Rs 950 crore through two tranches in NCDs. The company aimed 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. 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. It recently approved a financial decision to increase its capital structure and expand its technical capabilities. This finance-based startup plans 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 over half the planned long-term capital investments. The funding round for this year’s quarter has been completed.
The startup 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 gained by startups in this sector reported to be $33.1 million across three deals.
