Navi Finserv closes $24.5 Mn loan securitization transaction with Goldman Sachs

Navi Finserv has closed a $24.5 million loan securitization transaction with Goldman Sachs (India) Finance Private Limited, marking Goldman Sachs as the seventh multinational bank to partner with the company. 

This follows a $38 million securitization deal with J.P. Morgan earlier this year.

The new transaction is structured through pass-through certificates rated IND AA (SO) by India Ratings, backed by a pool of unsecured personal loans managed by Navi Finserv, the company said in a press release.

The funds will support Navi's mission to simplify access to finance, enhance its operations with robust underwriting practices, and broaden financial inclusion by providing seamless credit and exceptional customer service.

Founded in 2018 by Sachin Bansal and Ankit Agarwal, Navi Finserv operates as an RBI-registered NBFC in the middle layer category, offering personal and home loans.

Navi’s revenue from operations rose to Rs 1,906 crore in FY24 from Rs 1,238 crore in FY23, as per its standalone financial statements. The company’s net profits stood at Rs 668 crore, largely driven by gains from the sale of its subsidiary.