Navi Finserv has successfully closed a $24.5 million loan securitization transaction with Goldman Sachs (India) Finance Private Limited, marking a significant partnership with the seventh multinational bank to collaborate with the company. This deal follows a notable $38 million securitization agreement with J.P. Morgan earlier this year.
Structured for Success: Pass-Through Certificates
The new transaction is structured through pass-through certificates, rated IND AA (SO) by India Ratings. These certificates are backed by a pool of unsecured personal loans managed by Navi Finserv, emphasizing the company’s commitment to robust financial practices and risk management.
Enhancing Access to Finance
The funds raised will be instrumental in supporting Navi Finserv’s mission to simplify access to finance. The company aims to enhance its operations through robust underwriting practices and broaden financial inclusion by providing seamless credit and exceptional customer service to its clients.
About Navi Finserv
Founded in 2018 by Sachin Bansal and Ankit Agarwal, Navi Finserv operates as a Reserve Bank of India (RBI)-registered Non-Banking Financial Company (NBFC) in the middle layer category. The firm specializes in offering personal loans and home loans to a diverse clientele, catering to the growing demand for accessible financial solutions in India.
Strong Financial Performance
According to its standalone financial statements, Navi Finserv’s revenue from operations rose significantly to Rs 1,906 crore in FY24, up from Rs 1,238 crore in FY23. The company reported a net profit of Rs 668 crore, largely driven by gains from the sale of its subsidiary, reflecting its strong financial health and growth trajectory.
Future Prospects
With its recent partnerships and growing revenue, Navi Finserv is well-positioned to expand its impact in the financial services sector. The company’s commitment to innovation and customer-centric solutions continues to drive its mission of making finance accessible for all.
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