Navi Raises $100M from Prosus, Eyes IPO

Fintech startup Navi, co-founded by Flipkart’s Sachin Bansal, has secured $100 million in funding from Dutch investor Prosus. This investment arrives as Navi prepares for a potential initial public offering in India.

The Deal’s Core Figures

• Navi’s valuation post-investment: approximately $1.3 billion (Rs 13,500 crore).
• Prosus’s investment vehicle: MIH Payments Holdings BV.
• Stake acquired by Prosus: a minority share.

The Competition Commission of India (CCI) has already approved this transaction. They concluded it would not significantly harm competition, even with potential overlaps in financial services between Prosus and Navi.

Previous IPO Attempt

• Navi received SEBI approval in 2022 for a Rs 3,350-crore public offering.
• The company did not proceed with that listing.

Sachin Bansal noted the Prosus investment reignites a long-standing relationship. This connection began when Naspers, Prosus’s majority owner, was an investor during his time at Flipkart.

Navi’s Financial Snapshot

• Navi Finserv (lending arm) managed assets over Rs 13,000 crore by the end of FY25-26.
• Revenue from operations increased by 16% to Rs 2,982 crore in FY26.
• Consolidated net loss for the broader Navi group in FY26: Rs 466 crore, up from Rs 126 crore the previous year.

The increased loss is attributed to heightened spending on UPI and new business ventures as Navi actively expands its payments business. They leverage their UPI app to attract customers to other financial products.