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Dutch technology investor Prosus NV is putting $100 million into Navi, an Indian digital financial services platform that has, until now, run entirely on its founder’s personal checkbook. The primary investment values Navi at approximately $1.3 billion and sets the stage for what could be one of India’s more closely watched fintech IPOs in the coming fiscal year.
For a company that’s been bootstrapped by a billionaire for nearly eight years, accepting outside money is less a sign of desperation and more of a strategic pivot. Navi is using the capital injection to bolster its balance sheet ahead of a public listing, with fresh IPO filings anticipated in FY27.
From Flipkart exit to fintech ambition
Navi was founded in December 2018 in Bengaluru by Sachin Bansal and Ankit Agarwal. Bansal, of course, is best known as the co-founder of Flipkart, India’s homegrown e-commerce giant that Walmart acquired in 2018 for $16 billion. After exiting Flipkart, Bansal plowed his personal wealth into building Navi as a digital-first financial services platform.
The company operates through its non-banking financial company (NBFC) arm, offering a sprawling menu of products: personal loans, home loans, health insurance, mutual funds, and UPI payments.
The transaction is pending customary regulatory approvals, including clearance from the Competition Commission of India.
Why Prosus, and why now
Prosus is no stranger to India’s tech ecosystem. The Amsterdam-listed investment group, which is the international arm of South Africa’s Naspers, has built a substantial portfolio across Indian fintech, payments, and e-commerce over the past decade.
Navi has achieved consolidated profitability in recent quarters, a metric that separates it from many of its peers still burning through venture capital.
Earlier reports had suggested Navi was targeting a funding round between $250 million and $300 million, with a potential valuation of up to $2 billion at the time of its IPO. The $100 million deal at a $1.3 billion valuation suggests a more measured approach, one that gives the company institutional credibility without excessive dilution before going public.
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