Navi plans $100M Prosus funding ahead of IPO

Navi, the Indian fintech founded by Sachin Bansal, secured $100 million from Prosus in its first institutional funding round, valuing the company at about $1.3 billion ahead of a planned IPO. The financing is subject to regulatory approvals, including clearance from the Competition Commission of India. The investment marks a shift from Navi’s self-funded growth to institutional backing, with Prosus citing Navi’s large user base, diverse business lines, and technology-first approach. Navi’s performance metrics, including its fourth-place status on India’s UPI platform and improving profitability, underpin Prosus’s confidence. Bansal described Prosus as a strategic partner with a global perspective, while Prosus executives highlighted Navi’s scaling potential and operating leverage. The IPO target remains strong, with reports suggesting a valuation near $2 billion for the public offering.