Navi raises $100 million from Prosus ahead of FY27 IPO filing

Digital-first financial services startup Navi has raised $100 million in a fresh round of funding from Dutch technology investor Prosus, the company announced on Wednesday.

The company said that the new funds will be used to fuel its next phase of growth.

The new round comes as the fintech prepares to file fresh documents for an initial public offering this fiscal year. Navi had previously filed to raise up to ₹3,350 crore through the bourses back in March 2022, but it later shelved the listing due to market volatility. On its second attempt, the firm is focused on profitability and a diversified business mix.

Prosus was also an investor in Flipkart, which was founded by Sachin and Binny Bansal in 2007. The Dutch investor first invested in the company in 2012. Eventually, in 2018, Sachin Bansal exited the company to start Navi at the same time when Walmart acquired a majority stake in Flipkart.

“My association with Naspers and the Prosus Group dates back more than a decade, making this partnership particularly meaningful,” said Sachin Bansal founder and executive chairman of the Navi Group in a statement. “Their investment is a strong endorsement of the institution we're building at Navi. Beyond the capital, we value Prosus's global perspective, long-term orientation and experience in scaling technology businesses, and look forward to partnering with them as we continue our growth journey.”

Last year in February, Navi appointed Rajiv Naresh as the chief executive of Navi Technologies, while Abhishek Dwivedi took the helm of Navi Finserv. Bansal moved into the role of executive chairman of the Navi Group.

“We are excited about our partnership with Navi, a business that is demonstrating all the qualities we look for while investing - a large base of loyal users, a platform play with multiple lines of businesses, a technology-first approach to problem solving and a relentless focus on delivering superior consumer experience,” said Ashutosh Sharma, head of Prosus India investments and M&A in a statement.

“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.”

The Bengaluru-based startup claims it achieved consolidated profitability in Q4FY26. Its lending business, Navi Finserv, has crossed ₹13,000 crore (around $1.3 billion) in assets under management. In FY25, Navi's revenue stood at $318 million, while losses totalled $14.9 million, according to data from the startup intelligence platform Tracxn.