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Sachin Bansal's Navi starts offering cashbacks for UPI payments as it looks to expand financial services
Money Control
·
1y ago
Medial
Sachin Bansal's fintech app Navi is now offering cashbacks and rewards for UPI transactions as part of its expansion into financial services. Customers will receive coins for every UPI transaction, with 10 coins equaling one rupee. The number of coins earned is determined by luck and varies per transaction. Navi has allocated a budget of Rs 200 crore for UPI-related promotions this year. Despite facing a duopoly in the market with PhonePe and Google Pay, Navi aims to bring a new angle to UPI and increase its market share.
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Navi to bring a new angle to UPI, says founder Sachin Bansal
The Arc Web
·
1y ago
Medial
Navi Technologies, the fintech startup launched by Flipkart's co-founder Sachin Bansal, is planning to launch its unified payments interface (UPI) in the coming months. With dominant players like PhonePe and Google Pay in the UPI market, Navi aims to bring a new angle to UPI, although specific details have not been disclosed. Navi has primarily focused on offering personal loans and has seen significant growth in its loan book over the past 18 months. Bansal also mentioned plans to expand partnerships with financial institutions. Navi is waiting for regulatory approval to reapply for a banking license after selling off its microfinance business.
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Sachin Bansal's Navi Finserv to raise Rs 600 crore through NCDs
Economic Times
·
1y ago
Medial
Flipkart co-founder Sachin Bansal's lending startup, Navi Finserv, is planning to raise Rs 600 crore (~$81 million) through non-convertible debentures (NCDs). The NCDs will have tenors of 18, 27, and 36 months with effective yields ranging from 10.4% to 11.19%. Navi Finserv aims to utilize technology and data science capabilities to enhance the customer experience and expand its financial services ecosystem. The company had previously raised around Rs 950 crore through NCDs.
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Fintech startup Navi looks to launch new products; tap credit opportunities around UPI
Economic Times
·
1y ago
Medial
Fintech startup Navi, founded by Sachin Bansal, is planning to update its Unified Payments Interface (UPI)-based payments system and explore opportunities related to credit on UPI. Bansal expressed his interest in changing the way users interact with UPI through new product offerings on Navi. The National Payments Corporation of India allows credit transactions through UPI via RuPay credit cards or pre-sanctioned credit limits. Navi, initially a consumer lending platform, now offers larger personal loans, secured credit options, insurance broking, and asset management services. Despite competition, Google Pay and PhonePe hold a significant share of the UPI payments market.
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Ananya Birla founded Svatantra to acquire Sachin Bansal's Chaitanya for Rs 1,479 crore
IndianStartupNews
·
2y ago
Medial
Billionaire Kumar Mangalam Biral daughter Ananya Birla founded Svatantra Microfin said it will be acquiring Chaitanya India Fin Credit, a wholly owned subsidiary of Sachin Bansal's Navi Group (Navi) for Rs 1,479 crore.
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Was extremely unhappy after exiting Flipkart as it was unplanned: Sachin Bansal
Economic Times
·
4m ago
Medial
Sachin Bansal, Flipkart cofounder, expressed his unhappiness after leaving the company in 2018, describing it as an unplanned exit. Despite being financially successful, Bansal felt discontent following the sale of his and his cofounder Binny Bansal's stakes to Walmart. This sentiment was noted by Paytm's Vijay Shekhar Sharma. After exiting Flipkart, Bansal founded Navi, a financial services company. He shared these reflections at Startup Mahakumbh 2025 in Delhi.
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Sachin Bansal is in talks to sell $100 million investment in Ola at a premium
Economic Times
·
7m ago
Medial
Flipkart cofounder Sachin Bansal is in discussions to sell his $100 million stake in Ola, seeking a premium and valuing the company at about $4 billion. Bansal's sale aims to focus resources on his fintech venture, Navi. Ola's valuation has recently decreased significantly, and Bansal's decision comes as the company plans an IPO. These talks coincide with regulatory challenges faced by Navi and plans for its growth despite previous fundraising setbacks.
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How Advent, Multiples PE-backed Svatantra Microfin fared in FY25
VCCircle
·
2m ago
Medial
Svatantra Microfin Pvt Ltd, led by Ananya Birla, reported a nearly 30% increase in consolidated net profit for the fiscal year ending March 2025. This growth was largely due to its acquisition of Chaitanya India Fin Credit Pvt Ltd from Sachin Bansal's Navi Group. Supported by private equity firms, this strategic move boosted the microfinance company's financial performance significantly during the reported period.
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After Ather Exit, Sachin Bansal Plans to Sell $100 Million Stake in Ola - Here's Why
OutlookIndia
·
6m ago
Medial
Sachin Bansal, co-founder of Flipkart, plans to sell his $100 million stake in Ola, valuing the company at approximately $4 billion. This move coincides with Ola's IPO preparations by March 2026. Bansal's decision stems from financial setbacks at his fintech venture Navi, which faced restrictions from the Reserve Bank of India. Funds from the Ola sale aim to bolster Navi's financial position. Bansal previously sold shares in Ather Energy.
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Sachin Bansal’s Navi Technologies raises Rs 170 crore via debt round - The Economic Times
Economic Times
·
11d ago
Medial
Navi Technologies, founded by Flipkart co-founder Sachin Bansal, raised Rs 170 crore via debt funding, led by PhillipCapital. The fintech firm offers loans, insurance, and UPI services. Despite past challenges with RBI over lending practices, Navi posted strong FY24 results and ranked fourth among India’s UPI apps by transaction volume. The company plans further expansion, supported by previous and ongoing funding efforts, and is valued at around $2 billion.
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Sachin Bansal’s Navi In Talks To Raise Funds At $2 Bn Valuation
Inc42
·
1y ago
Medial
Former Flipkart co-founder, Sachin Bansal, is reportedly in talks to raise between $200-$400 million in funding for his startup, Navi Technologies. This investment would value Navi at $2 billion. If successful, it would be the company's first external investment since its inception in 2018. The terms of the investment and Bansal's position on external funding may evolve as negotiations progress. Navi Technologies, which includes Navi Finserv, posted a net profit of INR 172 crore in FY23 and saw operating revenues increase to INR 1,283 crore.
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