Sachin Bansal, who is the co-founder of Flipkart has been given the post of Managing Director at Navi Technologies.
Navi Technologies was previously known as BACQ, it has been founded by Sachin Bansal. This step was taken after he made an exit from the biggest e-commerce company Flipkart in the year 2018. With Ankit Agarwal, he co-founded the company.
In the space of the financial sector, this would mark his second entrepreneurial venture after he made an exit from the eCommerce market. As per the reports of Registar of Companies, the board of Navi Technologies has come up with a decision of making Bansal the managing director.
The co-founder of Flipkart also read IIT Delhi, when he had made up his mind of remaining in the spaces of the financial sector. The endowment fund rolled out got contributions from Binny and Sachin Bansal.
majority of stake has been acquired in Chaitanya Rural Intermediation Development Services (CRIDS), by Navi Technologies which was previously known as BACQ, CRDS which is one of the companies that function in micro-finance institutions.
Recently, a fund infusion was led by Sachin Bansal. The sum amount was near about Rs 3,000 crore into the Navi Technologies, this included Rs 253 crore in cash and the security amount was nearly Rs 2,675 crore.
The different other files also reveal information that an investment of Rs 204 crore has been made by the Gaja Capital where the transfer of shares of around Rs 1.45 crore took place.
There are many other high profile individuals who have invested their corpus into the Navi Technologies. Deep bets in the financial sector have been done by Sachin Bansal, co-founder of Flipkart. The company has been noticing a good bench mark in the past few years.
At the beginning of this year, Ujjivan Small Finance bank witnessed the resignation of Sachin. He has been trying to remain in the spaces of finance.