Navi, the Indian fintech founded by the Flipkart co-founder Sachin Bansal, has raised $100mn from the investor Prosus. It is the first outside institutional funding for the eight-year-old company, TechCrunch reported. Navi is preparing to go public.
The deal values Navi at about $1.3bn, according to people familiar with the matter cited by TechCrunch. Navi itself did not disclose the valuation, the stake Prosus is taking, or how it plans to use the money, Inc42 reported. Bansal did not respond to TechCrunch’s question about the valuation. Bloomberg, which also reported the deal, said Navi confirmed the investment but not the price.
The figure marks a step down from the company’s earlier ambitions. In 2024, Navi sought outside money at a valuation of about $2bn, TechCrunch reported. The new round values it lower, at roughly $1.3bn. A raise below a previous target is often called a down round, and it can reflect a cooler market for a company rather than a weaker business.
The Economic Times also reported the roughly $1.3bn figure, while Navi stayed silent on the number.
What Navi does
