Navi Finserv closed $24.5 M loan securitization transaction with Goldman Sachs
Goldman Sachs (India) Finance Private Limited and Navi Finserv have closed a $24.5 million loan securitization deal, making Goldman Sachs the seventh global bank to work with the company.
This comes after a $38 million securitization agreement with J.P. Morgan in the beginning of the year.
According to a press release from the company, the new transaction is structured using pass-through certificates that have been rated IND AA (SO) by India Ratings and are supported by a pool of unsecured personal loans that are overseen by Navi Finserv.
The money will help Navi fulfill its goals of making financing more accessible, improving its operations through sound underwriting procedures, and expanding financial inclusion through easy credit and first-rate customer care.
Navi Finserv is an RBI-registered nonbank financial company (NBFC) in the middle layer category that provides home and personal loans. It was founded in 2018 by Sachin Bansal and Ankit Agarwal.
According to its standalone financial statements, Navi’s revenue from operations increased to Rs 1,906 crore in FY24 from Rs 1,238 crore in FY23. Gains from the sale of its subsidiary accounted for a large portion of the company’s Rs 668 crore net profits.
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