Navi has secured its first institutional investment since its founding, bringing in $100 million from Prosus as the fintech company prepares for its next phase of growth. The funding values the 8-year-old Bengaluru-based startup at around $1.3 billion, according to people familiar with the matter.
Founded by Flipkart co-founder Sachin Bansal in 2018, Navi offers financial services including digital payments, lending, insurance and mutual funds. Bansal launched the company after leaving Flipkart following its sale to Walmart.
The latest investment comes after Navi had sought external funding at a valuation of around $2 billion in 2024. The Prosus investment remains subject to customary closing conditions and regulatory approvals.
Navi is also reportedly preparing for an initial public offering that could raise around ₹30 billion ($314 million). The company had originally filed plans for a $440 million IPO in 2022, but dropped the plan the following year amid a weaker IPO market.
Bansal co-founded Flipkart with Binny Bansal in 2007 and helped build the company into one of India’s leading e-commerce businesses. He exited Flipkart and sold his stake in 2018, shortly before Walmart completed its $16 billion acquisition of a majority stake in the company.
After launching Navi, Bansal invested hundreds of millions of dollars of his own money into the fintech, with ambitions of eventually building it into a bank.
For the financial year ended March 2026, Navi reported revenue of ₹30.91 billion ($323.33 million), while its net loss increased to ₹4.66 billion ($48.74 million).
Navi’s app is currently India’s 4th-largest UPI app, behind PhonePe, Google Pay and Paytm. In July, it processed more than 947 million transactions worth ₹483.18 billion ($5.05 billion), according to NPCI data.
Its lending arm, Navi Finserv, has more than ₹130 billion ($1.4 billion) in assets under management. The company says it serves hundreds of millions of users across India and achieved consolidated profitability in Q4 of fiscal 2026.
Bansal described the Prosus investment as a “strong endorsement” of the institution Navi is building and said the company values Prosus’ global perspective and experience in scaling technology businesses.
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