New Delhi, Aug. 19 -- Bengaluru-based financial services company Navi Ltd has raised $100 million (about Rs 950 crore) from Dutch technology investor Prosus, as founder Sachin Bansal brings in external equity capital after largely funding the business himself since its inception.
The investment also marks a return to an investor relationship that goes back more than a decade with Bansal having maintained ties with Naspers and its investment arm Prosus since his days at Flipkart, which he co-founded. Naspers first invested in Flipkart in 2012 and exited in 2018 when Walmart Inc acquired a majority stake in the ecommerce company. Bansal set up Navi after leaving Flipkart.
Navi offers financial services online, including personal and home loans, insurance, mutual funds and UPI payments. During FY26, its non-bank lending arm Navi Finserv's assets under management crossed Rs 13,000 crore. The group also achieved consolidated profitability in the fourth quarter of FY26.
The transaction is subject to customary closing conditions and regulatory approvals, including clearance from the Competition Commission of India.
The fundraise is significant because Navi had largely relied on founder capital and debt financing before the Prosus investment.
Navi earlier engaged in talks to raise equity funding from International Finance Corporation and private equity firm Gaja Capital in 2020 but those transactions didn't eventually go through.
Navi had previously explored a large external equity raise. In 2024, reports said the company was seeking to raise $200 million to $300 million at a valuation of around $2 billion, but those discussions did not result in a transaction. Navi had also received regulatory approval for a Rs 3,350 crore IPO in 2022, although it subsequently shelved the listing plans.
Published by HT Digital Content Services with permission from VC Circle.