IPO-Bound Navi Raises $100 Mn From Prosus In Maiden Institutional Round

Global VC firm Prosus has invested $100 Mn (over ₹955 Cr) in Sachin Bansal-led fintech startup Navi, marking the latter’s first institutional capital raise.

The transaction is subject to customary closing conditions and regulatory approvals, including clearance from the Competition Commission of India (CCI), Navi said in a statement.

The fintech startup did not disclose the valuation at which Prosus is making the investment, the stake the investor will acquire, or how it plans to deploy the fresh capital.

“My association with Naspers and the Prosus Group dates back more than a decade, making this partnership particularly meaningful. Their investment is a strong endorsement of the institution we’re building at Navi,” cofounder and executive chairman Bansal said.

In a statement, Navi said that it is entering its next phase of growth with strong operating momentum across its businesses.

Ashutosh Sharma, head of Prosus India investments and M&A, said the investor was backing Navi on account of its large user base, multiple business lines, and technology-first approach.

“We believe the team has executed extremely well in the last 12 months despite a tough macro environment, which makes the company well-positioned to capture significant opportunities in the sector in times to come,” Sharma added.

During FY26, Navi UPI claims to have strengthened its position as digital payments platforms, while Navi Finserv continued to scale its lending franchise responsibly with AUM crossing ₹13K Cr.

The company also said the Navi Group achieved consolidated profitability in the fourth quarter of FY26 but did not disclose the financial figures.

NBFC arm Navi Finserv’s standalone net profit increased 32% YoY to ₹292.2 Cr in FY26, while its operating revenue rose 8% to ₹2,461 Cr. However, its consolidated net profit declined 46% to ₹93.3 Cr during the year, even as operating revenue grew 17% to ₹2,691.5 Cr.

Navi’s IPO Plans

The investment comes at a time when Navi is reportedly looking to revive its public listing plans. Recent reports suggested that the fintech startup could refile its draft IPO papers with the SEBI by December this year.

Navi is said to be eyeing a fresh issue of around ₹3,000 Cr and has appointed JM Financial, Kotak Mahindra Capital, Goldman Sachs, and JPMorgan as advisers for the proposed offering.

This would mark Navi’s second attempt to go public. The startup filed its draft papers with SEBI in 2022 for a ₹3,350 Cr IPO but later shelved the plan amid adverse market conditions.

Founded by Bansal and Ankit Agarwal in 2018, Navi offers financial products across lending, insurance, mutual funds, and UPI payments. Bansal stepped down as the startup’s chief executive in February 2025 and took over as its executive chairman.

Navi said its UPI platform retained its position as India’s fourth-largest third-party application provider by transaction volume during FY26. Meanwhile, the assets under management of its lending arm, Navi Finserv, crossed ₹13,000 Cr.

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