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The financial services company posted losses of Rs 126 crore in the financial year ended March 31, 2025.
NDX Finserve, Arpee Group, Ambit Finvest and Grey Grass India participated in the funding round.
Former Navi VPs Shobhit Agarwal and Apurv Anand are planning to start the venture with Sebi’s Portfolio Management Services (PMS) license.
In September 2022, the company secured Sebi approval for a Rs 3350-crore ($440 million) public offering. However, the plan was shelved then.
The company has appointed Rajiv Naresh as the CEO of Navi Technologies Limited and Abhishek Dwivedi as the CEO of Navi Finserv Limited.
Scammers posed as customers and misused a bug and cheated the company of Rs 14.26 crore in 14 days in December, 2024.
In October, the banking regulator had barred four NBFCs to "cease and desist" from sanction and disbursal of loans.
In October, the banking regulator had barred Navi Finserv and three other NBFCs to "cease and desist" from sanction and disbursal of loans.
Flipkart Group’s UPI app super.money also witnessed surge in its number of transactions in October to 50 million.
This action, according to the RBI, is based on material supervisory concerns observed in the Pricing Policy of these companies.
Jio-BlackRock gets Sebi's in-principle nod to set up mutual fund biz; Sachin Bansal-led Navi Finserv's revenue from operations fell to Rs 1,906 crore in FY24 from Rs 2,041 crore in FY23; Paytm promotes Deependra Singh Rathore to CTO.
