Navi named Meesho CEO Vidit Aatrey as independent Director of its Board

Vidit Aatrey, cofounder and CEO of Meesho, has been appointed as an independent director on the board of Navi Technologies, which is preparing to go public. The appointment will take effect on April 9 if all processes are completed.

Navi Technologies now has four independent directors on its board, thanks to Vidit Aatrey’s appointment. Abhijit Bose, Shripad Nadkarni, and Usha Narayanan are the other three newly appointed independent directors.

Bansal and Ankit Agarwal founded the Navi Group in 2018 to provide a variety of financial services and products, including personal loans, house loans, retail health insurance, and mutual funds.

After a loss of INR 8 Cr in FY20, Navi Technologies had a profit of INR 71 Cr in FY21. From INR 221 Cr in FY20 to INR 780 Cr in FY21, the financial startup’s overall income increased by 252 percent.

In the insurance space, Navi competes against Policybazaar, Digit, and Acko. It competes with companies like Paytm, Groww, Upstox, and Zerodha in the mutual fund industry.

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