Sachin Bansal's Navi raises $100M at $1.3B valuation
What's the story
Navi, the fintech company founded by Flipkart co-founder Sachin Bansal, has raised $100 million in its first institutional funding round. The investment comes from global technology investor Prosus and values Navi at approximately $1.3 billion. The Bengaluru-based start-up had previously attempted to raise external capital from institutional investors at a valuation of around $2 billion in 2024.
Company evolution
Navi prepares for IPO as it secures institutional funding
Founded in 2018 after Bansal's exit from Flipkart, Navi offers a range of financial services such as digital payments, lending, insurance, and mutual funds.
The investment comes as the company is preparing to go public with an IPO aimed at raising ₹30 billion (about $314 million).
Originally, Navi had filed for a $440 million IPO in 2022 but canceled it the following year amid a downturn in the IPO market.
Business metrics
Start-up's financials and position in UPI market
In the fiscal year ending March 2026, Navi reported revenue of ₹30.91 billion (about $323.33 million) while its net loss widened to ₹4.66 billion (around $48.74 million).
The company's app, which offers digital payments through the Indian government-backed Unified Payments Interface (UPI), is India's fourth-largest UPI app after Walmart-owned PhonePe, Google Pay, and Paytm.
Business expansion
Lending arm and consolidated profitability
Navi's lending arm, Navi Finserv, has over ₹130 billion (about $1.4 billion) in assets under management.
The start-up claims to serve hundreds of millions of users across India and achieved consolidated profitability in Q4 of fiscal 2026.
Bansal said the Prosus investment was a "strong endorsement" of the institution Navi is building and that it valued the investor's global perspective and experience scaling technology businesses.