India, Aug. 19 -- Global VC firm Prosus has invested $100 Mn (over Rs.955 Cr) in Sachin Bansal-led fintech startup Navi, marking the latter's first institutional capital raise.

The transaction is subject to customary closing conditions and regulatory approvals, including clearance from the Competition Commission of India (CCI), Navi said in a statement.

The fintech startup did not disclose the valuation at which Prosus is making the investment, the stake the investor will acquire, or how it plans to deploy the fresh capital.

"My association with Naspers and the Prosus Group dates back more than a decade, making this partnership particularly meaningful. Their investment is a strong endorsement of the institution we're building at Navi,"...