Fintech unicorn company Navi, started by Flipkart co-founder Sachin Bansal, has raised $100 million from Prosus in its first institutional funding round. Reports indicate that the investment has been made at a valuation of around $1.3 billion. The company has secured this significant funding ahead of its upcoming IPO targeting a valuation of $2 billion.

Navi is a platform that digitally provides services such as loans, insurance, mutual funds and UPI payments. It also launched a motor insurance service for its customers in March 2026. Navi, the fourth largest UPI app in India, currently has a market share of 4 percent. Additionally, last year, Sachin Bansal took over as executive chairman and appointed new CEOs for various divisions of Navi.

The company is now making good progress in overcoming the temporary restrictions imposed by the RBI on new loans in 2024. Assets under management (AUM) under Navi have now crossed Rs 13,000 crore. Despite posting a net loss of Rs 466 crore in the last financial year (FY26), revenue grew 16 per cent to Rs 2,982 crore and the company turned a profit in the last quarter.