Navi Bank, Founded by Sachin Bansal: Indian fintech company Navi has raised $100 million from Prosus. This marks the first institutional funding for the eight-year-old startup founded by Flipkart co-founder Sachin Bansal.
According to people familiar with the matter, this investment has pushed Navi’s valuation to approximately $1.3 billion. The investment comes after the Bengaluru-based startup had previously attempted to raise external capital from institutional investors in 2024 at a valuation of around $2 billion.
Sachin Bansal launched Navi in 2018 after leaving Flipkart following its sale to Walmart. The fintech company offers a range of financial services, including digital payments, loans, insurance, and mutual funds.
The investment is subject to certain conditions and regulatory approvals. It comes amidst reports that Navi is preparing to go public and raise ₹30 billion (approximately $314 million) through an Initial Public Offering (IPO). Initially, the startup had filed for a $440 million IPO in 2022 but shelved the plan the following year due to a downturn in the IPO market.
Sachin Bansal co-founded Flipkart with Binny Bansal in 2007 and helped transform the online book retailer into India’s leading e-commerce company.
Sachin Bansal co-founded Flipkart with Binny Bansal in 2007 and helped transform the online book retailer into India’s leading e-commerce company. He left Flipkart and sold his stake in 2018, coinciding with Walmart completing a $16 billion deal to acquire a majority stake in the company.
After leaving Flipkart, Sachin Bansal founded Navi and invested millions of dollars of his own capital into the venture; his ultimate goal is to establish it as a bank. For the financial year ending in March 2026, Navi reported revenue of ₹30.91 billion (approximately $323.33 million), while its net loss widened to ₹4.66 billion (approximately $48.74 million).
Navi’s app, which facilitates digital payments via the Indian government-backed Unified Payments Interface (UPI), is the country’s fourth-largest UPI app. It trails behind Walmart-owned PhonePe, Google Pay, and Paytm. According to data from the National Payments Corporation of India (NPCI) website, the app processed over 947 million transactions in July, valued at ₹483.18 billion (approximately $5.05 billion).
Navi Finserv, its lending arm, has assets under management (AUM) exceeding ₹130 billion (approximately $1.4 billion). Additionally, the startup states that it serves millions of users across India and achieved consolidated profitability in the fourth quarter of the 2026 financial year. Bansal stated that Prosus’s investment serves as a “strong endorsement” of the institution Navi is building. He noted that the startup values the investor’s global perspective and experience in scaling technology businesses. He did not respond to a request for comment regarding the valuation.
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