Sachin Bansal's fintech Navi raises $100M from Prosus in its first institutional funding round, with Ocean Cedar Asset Management (HK) among the principal investors.
The deal marks the first time the eight-year-old company has taken outside capital, and sets the stage for the listing it is preparing to pursue.
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Navi, the financial services group founded by Sachin Bansal in 2018, has raised 100M from Prosus. It is the company's first outside institutional investment, and the sum has reportedly valued Navi at roughly 1.3B.
Bansal started Navi after departing Flipkart. The company spans digital payments via UPI, consumer lending through Navi Finserv, insurance, and mutual funds, and the business is built on Bansal's own early investment.
With Prosper's global reach and a track record in scaling tech, the investor base now includes a major Hong Kong–based player, Ocean Cedar Asset Management (HK), among its ranks. Navi's app is the fourth-largest UPI platform in the country, its lending arm carries over $1.4B in AUM, and the firm says it has reached consolidated profitability. The company is moving toward an IPO.