Indian fintech Navi to raise $100 million ahead of planned IPO

Indian fintech Navi to raise $100 million ahead of planned IPO

Wed, August 19, 2026 at 6:51 PM GMT+3 1 min read

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Aug 19 (Reuters) - Indian fintech startup Navi said on Wednesday it will raise $100 million ‌from Dutch technology investor Prosus NV ‌in its first institutional funding round, a deal that comes ​ahead of a planned initial public offering, a source familiar with the matter said.

Reuters could not determine the valuation at which Prosus made ‌the investment. The ⁠investment values Navi at about $1.3 billion, the Economic Times reported on Wednesday, ⁠citing a person with direct knowledge of the matter.

Navi is seeking a valuation of about $2 ​billion in ​the IPO, the ​source said, declining to ‌be named because the information is confidential. The company did not immediately respond to a request for comment on its IPO plans or valuation.

Navi was founded in 2018 by Sachin ‌Bansal, a co-founder of Walmart-backed ​Indian e-commerce firm Flipkart. ​The company offers ​digital payments, lending, mutual funds and ‌insurance through a digital ​platform.

The investment ​is subject to regulatory approvals, including from the Competition Commission of India, Navi said ​in a statement.

(Reporting ‌by Ira Dugal in Mumbai and Urvi ​Dugar and Abinaya V in Bengaluru; ​Editing by Tasim Zahid)