Navi Finserv closes $38 mn personal loan securitisation deal with JP Morgan

Navi Finserv, the non-banking financial company (NBFC) arm of Navi Technologies, on Tuesday announced that the company had closed a $38 million personal loans securitisation deal with US-based J.P. Morgan.

The Bengaluru-based company will use the funds to expand and grow its personal loans business.

The transaction between the two firms, structured in the form of pass-through certificates (PTC), will be backed by a pool of unsecured personal loans. It will be originated and serviced by the NBFC.