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Fintech company Navi has announced a Rs 940 crore funding round led by Prosus at a valuation of Rs 13,192 crore. Founder Sachin Bansal continues to remain the company's largest shareholder, holding an 84.34% stake. According to the company's regulatory filings accessed by Entrackr, Navi has issued 23,94,29,444 compulsorily convertible preference shares (CCPS) at an issue price of Rs 39.26 per share, aggregating to approximately Rs 940 crore. Prosus Ventures, through its subsidiary MIH Payments Holdings B.V., was the sole investor in the funding round. According to Entrackr's estimates, Navi's valuation has more than tripled to Rs 13,192 crore from Rs 4,260 crore in its previous funding round in April 2020. As per the filings, the company plans to use the equity capital to support business expansion, investments in subsidiaries and general corporate purposes, in line with the business plan agreed upon with the investor. Founded by Flipkart co-founder Sachin Bansal, Navi operates across lending, insurance, mutual funds and UPI payments. In March 2026, the company expanded its insurance portfolio with the launch of motor insurance. In February 2025, Navi appointed Rajiv Naresh as CEO of Navi Technologies and Abhishek Dwivedi as CEO of Navi Finserv. Bansal moved to the role of executive chairman of the Navi Group. Following the latest allotment, Prosus Ventures has emerged as Navi's largest external investor, with an 8.59% stake. Paresh Sukthankar, former deputy managing director of HDFC Bank, and Sangeeta Sukthankar collectively hold 0.21%, while Anand Rao, former co-founder of Navi Finserv, owns 0.08%. Among the company's founders, Bansal continues to hold the largest stake at 84.34%, followed by co-founder and CFO Ankit Agarwal, who owns 0.85%. Separately, according to media reports, Navi is in talks to raise $40 million from Elevation Capital.
document fetched 2026-10-31 02:57