Sachin Bansal’s fintech startup Navi has secured its first institutional investment, raising $100 million from Prosus. The deal values Navi at approximately $1.3 billion, a significant milestone for the Bengaluru-based company, which was founded in 2018 after Bansal’s exit from Flipkart. The fintech firm provides digital payments, lending, insurance, and mutual fund services and had previously sought a $2 billion valuation during earlier fundraising attempts.

The investment round comes as Navi prepares for a potential initial public offering, aiming to raise around ₹30 billion (about $314 million) in its upcoming IPO. This marks a pivot from its earlier plan to launch a $440 million IPO in 2022, which was shelved amid a downturn in the public markets. Bansal, who co-founded Flipkart in 2007 and made his exit in 2018, has invested heavily in Navi, hoping to establish it as a major player in India’s financial sector, including aspirations to build a bank.

In the fiscal year ending March 2026, Navi generated revenues of approximately ₹30.91 billion ($323.33 million) but reported a net loss of ₹4.66 billion ($48.74 million). Its digital payments app ranks as the fourth largest Unified Payments Interface (UPI) app in India, processing nearly 947 million transactions valued at ₹483.18 billion ($5.05 billion) in July alone. Navi’s lending division also manages assets worth more than ₹130 billion (about $1.4 billion).

Bansal described the Prosus investment as a strong validation of Navi’s institutional foundation, emphasizing the value of Prosus’ global experience in scaling technology companies. As the fintech startup advances toward profitability, having reached consolidated profits in the final quarter of fiscal 2026, the backing by Prosus could provide crucial momentum ahead of its public market debut.