Prosus backs Navi with $100 million investment
Prosus will invest $100 million in Navi, the fintech founded by Flipkart co-founder Sachin Bansal, marking the company's first institutional capital raise. The investment is subject to regulatory approvals, according to Navi.
Ashutosh Sharma, Head of Prosus India Investments and M&A, said Navi fits the investor's focus with its large user base, multiple business lines, and technology-first approach. "We believe the team has executed extremely well in the last 12 months despite a tough macro environment," Sharma said.
Bansal calls investment a 'strong endorsement'
Sachin Bansal, Founder and Executive Chairman of Navi Group, described the investment as "a strong endorsement" of the institution being built at Navi. "Prosus is one of the world's most respected investors, with an exceptional track record of backing category-defining technology companies over the long term. My association with Naspers and the Prosus Group dates back more than a decade, making this partnership particularly meaningful," Bansal said.
The investment builds on Bansal's long-standing relationship with Naspers and Prosus, which goes back more than a decade.
Valuation and fundraising history
The investment values Navi at about $1.3 billion, according to people familiar with the matter, as reported by TechCrunch. This comes after Navi sought external capital at a valuation of about $2 billion in 2024.
Navi is reportedly preparing to go public and raise ₹30 billion (about $314 million) in an initial public offering. The startup had originally filed for a $440 million IPO in 2022 but abandoned the plan in 2023 as the IPO market slumped.
Company background and financials
Bansal founded Navi in 2018 after leaving Flipkart, which he had co-founded with Binny Bansal in 2007. He left Flipkart and sold his stake in 2018 shortly before Walmart closed its $16 billion deal to acquire a majority stake. Bansal poured hundreds of millions of dollars of his own money into Navi, which he has sought to eventually build into a bank.
Navi provides digital payments, lending, insurance, and mutual funds. Its UPI app is India's fourth-largest, behind PhonePe, Google Pay, and Paytm, and processed over 947 million transactions in July, according to data from the National Payments Corporation of India.
For the financial year ended March 2026, Navi reported revenue of ₹30.91 billion (about $323.33 million) and a net loss of ₹4.66 billion (around $48.74 million). The company reached consolidated profitability in Q4FY26, and Navi Finserv's assets under management crossed ₹13,000 crore, as noted by Outlook Business.
Navi serves hundreds of millions of users across India.