Sachin Bansal
Sachin Bansal is the founder of the E-commerce company Flipkart. He is an Indian entrepreneur, born in Chandigarh on the 5th of August, 1981. His career at Flipkart lasted 11 years and he left his position as CEO and Chairman of the company in 2018. The decision came after he signed a deal with Walmart.
Sachin and Binny Bansal founded Flipkart in 2007. As of 2018 Bansal reportedly held a 5.5 per cent stake within the company. In the same year, he sold it to Walmart.
Presently, he is the Managing Director of Navi Group. The company specialises in offering financial services to its customers.
He completed his primary education at St. Anne’s Convent School, Chandigarh. Further pursuing a degree in Computer Engineering at the Indian Institute of Technology, Delhi. After graduating in 2005 he began working at Techspan. Within a few months he started working with Amazon Web Services, holding the position of a Senior Software Engineer. Two years later, in 2007, he quit his position to start his own business venture.
Post-Flipkart, he founded BACQ Acquisitions Private Limited. The company specialises in building and acquiring technology-driven businesses.
In 2019, he invested a sum amount of $100 Million in Ola, Unacademy and Terminus amongst other companies. In the same year, his company Navi Technologies acquired the technology consulting firm Maven Hive. No financial details were disclosed relating to the same.
As of 2023, his net worth stands at an estimated value of $1.3 Billion.
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FinTech
Navi edges past Cred in volume as UPI transactions jump 10.26% in October
Sayan Sen | November 18, 2024
Navi outpaced Cred in UPI transaction volume in October, processing 157.51 million transactions—a 30.81% jump from September—surpassing Cred's 152.28 million transactions. While the Sachin Bansal-led fintech took the lead in transaction count, Cred maintained its edge in transaction value. Cred'
FinTech
Are loan apps and NBFCs fuelling losses for F&O traders?
Sohini Mitter | November 13, 2024
India’s most vulnerable F&O traders—under-30, earning less than 5LPA—may be caught in an endless cycle of borrowing from instant loan apps that are ready to lend irrespective of their creditworthiness, or the lack of it. Result: 9 out of 10 traders lose money, with unsecured loans funding the losses
News
Navi Finserv shelves bond sale amid RBI ban on lending; cites 'adequate liquidity'
Sayan Sen | October 21, 2024
The Reserve Bank of India ordered four lending companies—Asirvad Microfinance, Arohan Financial Services, DMI Finance, and Navi Finserv—to stop disbursing new loans from October 21, 2024.
Daily Capsule
Navi Finserv earns a fortune; Creating decentralised identity solutions
Team YS | October 4, 2024
Navi Finserv, a part of the Navi Group founded by Sachin Bansal, has reported robust FY24 earnings. Soulverse is a next-generation decentralised identity creation infrastructure that aims to make decentralised identities universally accessible.
News
PhonePe captures 50% of UPI market by value, Navi surpasses Amazon Pay on volumes
Sayan Sen | September 17, 2024
In August, PhonePe processed payments worth Rs 10,33,264.34 crore. In terms of the number of transactions, PhonePe processed 7.23 billion transactions in August, which accounted for 48.36% of all transactions on UPI.
