SUMMARY
- Navi Finserv completes $24.5M loan securitization transaction with Goldman Sachs.
- The deal follows a $38M securitization deal with J.P. Morgan earlier this year.
- Navi Finserv’s FY24 revenue surged to Rs 1,906 crore, with Rs 668 crore in net profits.
Navi Finserv, a prominent non-banking financial company (NBFC) founded by Sachin Bansal and Ankit Agarwal, has completed a $24.5 million loan securitization transaction with Goldman Sachs (India) Finance Private Limited. This marks Goldman Sachs as the seventh global financial institution to collaborate with Navi Finserv, following a $38 million securitization deal earlier this year with J.P. Morgan.
The transaction is structured through pass-through certificates rated IND AA (SO) by India Ratings, and it is backed by a pool of unsecured personal loans administered by Navi Finserv. The company stated that these funds will further its mission of enhancing financial inclusion by offering accessible credit, robust underwriting, and superior customer service.
Founded in 2018, Navi Finserv operates under the middle-layer category of the Reserve Bank of India (RBI). It focuses on providing personal and home loans, striving to make finance simpler for its customers. Navi Finserv reported an increase in its revenue from operations to Rs 1,906 crore in FY24, up from Rs 1,238 crore in FY23. Net profits rose to Rs 668 crore, driven primarily by gains from the sale of its subsidiary.
This partnership with Goldman Sachs will support Navi Finserv’s goals of financial inclusion, empowering it to broaden its offerings and improve its operations.
