Indian fintech company Navi has raised a $100 million investment from Prosus, the company’s first external institutional funding since it was founded eight years ago by Sachin Bansal, the former co-founder of e-commerce company Flipkart.
The deal values Navi at approximately $1.3 billion, according to people familiar with the matter. The investment comes after the Bengaluru-based company sought funding from institutional investors in 2024 at a valuation of nearly $2 billion. Bansal did not respond to a request for comment on the valuation.
Investment Ahead of a Potential IPO
The deal is subject to customary closing conditions and regulatory approvals. It comes amid reports that Navi is preparing for an initial public offering through which it could raise 30 billion Indian rupees, or approximately $314 million. The company filed in 2022 for a $440 million offering, but abandoned the plan the following year as the initial public offering market weakened.
Bansal founded Navi in 2018 after leaving Flipkart following its sale to Walmart. He co-founded Flipkart with Binny Bansal in 2007 and helped transform it from an online bookstore into one of India’s leading e-commerce companies. After leaving Flipkart, he invested hundreds of millions of dollars of his own money in Navi, which he ultimately sought to develop into a bank.
Financial Services and Operating Results
Navi offers a range of services including digital payments, lending, insurance and mutual funds. Its app enables digital payments through UPI, backed by the Indian government, and ranks fourth among UPI apps in the country after Walmart-owned PhonePe, Google Pay and Paytm.
According to data from the National Payments Corporation of India (NPCI), the app processed more than 947 million transactions during July, with a total value of 483.18 billion rupees, or approximately $5.05 billion. Its lending arm, Navi Finserv, manages assets worth more than 130 billion rupees, equivalent to approximately $1.4 billion. The company says it serves hundreds of millions of users across India and achieved consolidated profitability in the fourth quarter of fiscal year 2026.
Why Does This Investment Matter?
The funding represents a turning point for Navi, as the company had relied heavily on financing from its founder before the deal, while Prosus’s entry provides institutional backing ahead of a possible return to the public markets. But the available figures also point to a financial challenge: Navi reported revenue of 30.91 billion rupees, approximately $323.33 million, in the fiscal year ending in March 2026, while its net loss increased to 4.66 billion rupees, or approximately $48.74 million.
Bansal said Prosus’s investment represents strong endorsement of the institution Navi is building, noting the company’s appreciation for the investor’s global expertise in scaling technology companies. Completion of the investment and any subsequent public offering remain subject to regulatory approvals and procedures.