Indian Fintech Navi to Raise $100 Million from Prosus Ahead of IPO
Indian fintech startup Navi has announced plans to raise $100 million in its first institutional funding round, led by Dutch technology investor Prosus NV. The investment is expected to value the company at around $1.3 billion and precedes a planned initial public offering (IPO), where it aims for a valuation of approximately $2 billion. Navi was founded in 2018 by Sachin Bansal, co-founder of Flipkart. It offers digital financial services including payments, lending, mutual funds, and insurance through its platform. The funding is conditional on regulatory approvals from the Competition Commission of India.
Topics: investment IPO startup funding