Summary
Indian fintech Navi has raised $100 million from Prosus, marking the first institutional funding for the eight-year-old startup founded by Flipkart co-founder Sachin Bansal. The investment values Navi at about $1.3 billion, after the Bengaluru-based startup sought external capital at ~$2 billion in 2024. The raise comes as Navi reportedly prepares to go public, raising ₹30 billion (~$314 million) in an IPO. Navi provides digital payments, lending, insurance and mutual funds.
Key Points
- $100 million investment from Prosus; first institutional funding for Navi
- Values Navi at about $1.3 billion (sought ~$2B in 2024)
- Founded 2018 by Sachin Bansal (Flipkart co-founder) after leaving Flipkart
- Navi reportedly preparing to raise ₹30 billion (~$314 million) in an IPO
- Originally filed for a $440 million IPO in 2022, abandoned in 2023 as IPO market slumped
- FY ended March 2026: revenue ₹30.91 billion (~$323M); net loss ₹4.66 billion (~$48.7M)
- Fourth-largest UPI app in India (behind PhonePe, Google Pay, Paytm)
- Processed 947 million transactions valued at ₹483.18 billion (~$5.05B) in July
- Navi Finserv (lending arm): >₹130 billion (~$1.4B) assets under management
- Serves hundreds of millions of users; reached consolidated profitability in Q4 of fiscal 2026
- Bansal poured hundreds of millions of dollars of his own money into the venture
- Bansal co-founded Flipkart in 2007; left in 2018 before Walmart's $16 billion acquisition
- Subject to customary closing conditions and regulatory approvals