Sachin Bansal’s Navi Secures $100 Million Prosus Backing

Founded by Flipkart co-founder Sachin Bansal in 2018, Navi has spent years building a multi-faceted platform spanning digital payments, lending, insurance, and mutual funds. Bansal, who previously funneled substantial personal wealth into the startup, aims to transform the business into a full-scale bank. The current valuation reflects a recalibration from earlier 2024 discussions, where the startup reportedly sought a $2 billion price tag.

The company is now gearing up for an initial public offering to raise ₹30 billion, roughly $314 million, after abandoning a larger $440 million IPO plan in 2023 due to market volatility. Financial disclosures for the fiscal year ending March 2026 reveal revenue of ₹30.91 billion against a net loss of ₹4.66 billion, though the firm claims to have reached consolidated profitability by the final quarter of that year.

Navi’s growth strategy heavily leverages the Unified Payments Interface, positioning its app as the fourth-largest player in India behind PhonePe, Google Pay, and Paytm. With its lending arm, Navi Finserv, managing over ₹130 billion in assets, the startup maintains a significant footprint. Bansal described the Prosus deal as a pivotal endorsement, citing the investor's expertise in scaling global technology businesses as a key asset for the firm’s next chapter.