Navi secures $100 million from Prosus NV, valuing the fintech at $1.3 billion before its anticipated $2 billion IPO.
Indian fintech Navi will receive $100 million from Dutch investor Prosus NV in its first institutional funding round. The deal precedes Navi’s planned initial public offering, though the investment’s valuation remains unconfirmed by Reuters.
The Economic Times reported the funding values Navi at approximately $1.3 billion. Navi is targeting a $2 billion valuation for its IPO, according to a source familiar with the matter. The company, founded by Flipkart co-founder Sachin Bansal, offers digital payments, lending, and insurance services.
The investment is pending regulatory approvals, including from India’s Competition Commission. Navi has not commented on its IPO plans or valuation.