Sachin Bansal’s fintech Navi raises first outside capital with $100M Prosus investment

Indian fintech Navi has raised $100 cardinal from Prosus, marking the archetypal organization backing for the eight-year-old startup founded by Flipkart co-founder Sachin Bansal (pictured above).

The concern values Navi astatine astir $1.3 billion, according to radical acquainted with the matter. It comes aft the Bengaluru-based startup sought to rise outer superior from organization investors astatine a valuation of astir $2 billion successful 2024.

Bansal founded Navi successful 2018 aft leaving Flipkart pursuing its merchantability to Walmart. The fintech provides a scope of fiscal services, including integer payments, lending, insurance, and communal funds.

The investment, taxable to customary closing conditions and regulatory approvals, comes arsenic Navi is reportedly preparing to spell public and rise ₹30 cardinal (about $314 million) successful an archetypal nationalist offering. Originally, the startup had filed for a $440 cardinal IPO successful 2022 but abandoned the program the pursuing twelvemonth arsenic the IPO marketplace slumped.

Bansal had co-founded Flipkart with Binny Bansal successful 2007 and helped crook the online bookseller into India’s starring e-commerce company. He near Flipkart and sold his involvement successful 2018 soon earlier Walmart closed the $16 cardinal deal to get a bulk involvement successful the firm. Following his Flipkart exit, Bansal started Navi and adjacent poured hundreds of millions of dollars of his ain wealth into the venture, which helium has sought to yet physique into a bank.

In the fiscal twelvemonth ended March 2026, Navi reported that it generated ₹30.91 cardinal (about $323.33 million), portion its nett nonaccomplishment grew to ₹4.66 cardinal (around $48.74 million).

Navi’s app, which offers integer payments done the Indian government-backed strategy Unified Payments Interface, is the country’s fourth-largest UPI app, down Walmart-owned PhonePe, Google Pay, and Paytm. The app processed implicit 947 cardinal transactions valued astatine ₹483.18 cardinal (about $5.05 billion) successful July, per the information available connected the National Payments Corporation of India (NPCI) website.

Navi Finserv, its lending arm, has much than ₹130 cardinal (about $1.4 billion) successful assets nether management. Moreover, the startup says it serves hundreds of millions of users crossed India and reached consolidated profitability successful Q4 of fiscal 2026.

Bansal said the Prosus concern was a “strong endorsement” of the instauration Navi is building, adding that the startup valued the investor’s planetary position and acquisition scaling exertion businesses. He did not respond to a petition for remark connected the valuation.