Navi Finserv, co-founded by Sachin Bansal, has successfully closed a $38 million securitisation deal with JP Morgan, marking the latter's first foray into pass-through certificates (PTC) in India's fintech sector. The transaction involves a pool of unsecured personal loans, which will support Navi's expansion in the digital lending space. This deal is particularly significant as it is the first PTC transaction backed by unsecured personal loans in India. Navi plans to leverage the funds to enhance its digital lending operations, capitalizing on the rapid growth projected for the sector. JP Morgan expressed excitement about this partnership, emphasizing its commitment to supporting innovation in the Indian market. Previously, Navi Finserv had raised substantial amounts through private non-convertible debentures but had postponed an IPO due to market conditions.