Indian fintech Navi has raised $100 million from Prosus, marking the primary institutional funding for the eight-year-old startup based by Flipkart co-founder Sachin Bansal (pictured above, proper).
The funding values Navi at about $1.3 billion, based on individuals acquainted with the matter. It comes after the Bengaluru-based startup sought to boost exterior capital from institutional traders at a valuation of about $2 billion in 2024.
Bansal based Navi in 2018 after leaving Flipkart following its sale to Walmart. The fintech gives a spread of monetary companies, together with digital funds, lending, insurance coverage, and mutual funds.
The funding, topic to customary closing situations and regulatory approvals, comes as Navi is reportedly preparing to go public and lift ₹30 billion (about $314 million) in an preliminary public providing. Initially, the startup had filed for a $440 million IPO in 2022 however deserted the plan the next 12 months because the IPO market slumped.
Bansal had co-founded Flipkart with Binny Bansal in 2007 and helped flip the net bookseller into India’s main e-commerce firm. He left Flipkart and bought his stake in 2018 shortly earlier than Walmart closed the $16 billion deal to accumulate a majority stake within the agency. Following his Flipkart exit, Sachin Bansal began Navi and even poured lots of of tens of millions of {dollars} of his personal cash into the enterprise, which he has sought to finally construct right into a financial institution.
Within the monetary 12 months ended March 2026, Navi reported that it generated ₹30.91 billion (about $323.33 million), whereas its internet loss grew to ₹4.66 billion (round $48.74 million).
Navi’s app, which affords digital funds by the Indian government-backed system Unified Funds Interface (UPI), is the nation’s fourth-largest UPI app, behind Walmart-owned PhonePe, Google Pay, and Paytm. The app processed over 947 million transactions valued at ₹483.18 billion (about $5.05 billion) in July, per the info available on the Nationwide Funds Company of India (NPCI) web site.
Navi Finserv, its lending arm, has greater than ₹130 billion (about $1.4 billion) in property below administration. Furthermore, the startup says it serves lots of of tens of millions of customers throughout India and reached consolidated profitability in This fall of fiscal 2026.
Bansal stated the Prosus funding was a “sturdy endorsement” of the establishment Navi is constructing, including that the startup valued the investor’s world perspective and expertise scaling expertise companies. He didn’t reply to a request for touch upon the valuation.
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