Sachin Bansal’s Navi app among top three digital lenders in India

Just within three months of its launch, Flipkart co-founder Sachin Bansal’s financial services start-up Navi’s digital lending app has emerged as one of the largest such platforms in India.

In a fireside chat with Sequoia Capital India’s MD Rajan Anandan in the Global Fintech Fest, Bansal said there is a huge unmet demand for credit and their digital lending platform has done well despite the Covid-19 pandemic.

“If you are a middle-class person or an owner of an SME, you are not served by most of the financial services firms. The reason is the cost of operations is very high. No company is thinking in terms of next billion users,” said Bansal. “We have done well in the past three months. We had some target and I think, we are going to blow that up,” he added.