Sachin Bansal’s fintech Navi raises first outside capital with $100M Prosus investment
The investment comes amid Navi plans to go public.
Indian fintech Navi has raised $100 million from Prosus, marking its first institutional funding. The startup, founded by Flipkart co-founder Sachin Bansal in 2018, valued at $1.3 billion after the $100M investment. Bansal, who left Flipkart following its sale to Walmart in 2018, initially sought external capital at a $2 billion valuation in 2024.
The investment, pending regulatory approvals, comes as Navi prepares for a public listing and plans to raise ₹30 billion in an IPO. Bansal, who previously co-founded Flipkart with Binny Bansal, poured personal funds into Navi, aiming to turn it into a bank. Navi’s digital payments app, powered by the UPI system, is India’s fourth most popular, processing over 947 million transactions in July 2023. Navi Finserv, its lending arm, manages assets worth over ₹130 billion.
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