Navi, the Fintech Venture by Sachin Bansal, Secures First External Funding of $100M from Prosus
Navi, an Indian fintech company founded by Sachin Bansal, has secured $100 million in funding from Prosus, which marks the startup’s initial institutional investment in its eight-year history.
This funding round values Navi at approximately $1.3 billion, as reported by sources familiar with the deal. The Bengaluru-based company is reportedly aiming to attract institutional investors at a valuation of around $2 billion in 2024.
Bansal launched Navi in 2018 following his departure from Flipkart, which was sold to Walmart. Navi offers various financial services, including digital payments, loans, insurance, and mutual funds.
The investment is contingent on standard closing conditions and regulatory approvals. Navi is allegedly gearing up for an initial public offering (IPO) to raise about ₹30 billion (close to $314 million). Although the startup initially sought to secure $440 million in an IPO in 2022, it postponed the plan the following year due to a downturn in the IPO market.
Bansal co-founded Flipkart with Binny Bansal in 2007, transforming it from an online bookstore into India’s leading e-commerce platform. He departed from Flipkart and divested his shares in 2018, just ahead of Walmart’s $16 billion acquisition deal to gain control of the company. After leaving Flipkart, Bansal invested hundreds of millions of dollars into Navi, which he aims to develop into a full-fledged bank.
For the financial year ending March 2026, Navi reported earnings of ₹30.91 billion (around $323.33 million), alongside a net loss of ₹4.66 billion (approximately $48.74 million).
Navi’s app, which facilitates digital payments via the government-supported Unified Payments Interface (UPI), ranks as the fourth-largest UPI application in India, after PhonePe, Google Pay, and Paytm. In July, the app processed over 947 million transactions totaling ₹483.18 billion (nearly $5.05 billion), based on information from the National Payments Corporation of India.
Navi Finserv, its lending division, holds more than ₹130 billion (around $1.4 billion) in assets under management. The startup claims to serve hundreds of millions of users across the country and achieved consolidated profitability in the fourth quarter of the fiscal year 2026.
Bansal described the investment from Prosus as a significant validation of Navi’s mission, highlighting the value of the investor’s worldwide perspective and experience in scaling technology ventures. He did not comment on the valuation aspect.
