Synopsis
Sachin Bansal's Navi Technologies is in talks to raise $250-300 million at a $1.8-2 billion valuation, potentially from Prosus and Accel Growth Fund. This funding aims to expand its lending business in Southeast Asia, following strong performance in India. The move comes after a period of regulatory scrutiny and a shift from IPO plans to private capital.Listen to this article in summarized format
The company, which was eyeing an initial public offering (IPO) last year, is in discussions with Dutch technology firm Prosus and US-based Accel Growth Fund for the fundraise, the sources said. The talks are ongoing, and the final size of the round could change, they added.
Navi wants to expand its lending business in southeast Asia, as its India lending business seems to be picking up with Rs 3,000-4,000 crore in monthly disbursals.
The private round is expected to give the company fresh growth capital at a time when Bansal, who cofounded the ecommerce marketplace Flipkart, is also raising debt on a personal guarantee to invest in the lending business, one of the sources aware of the developments said.
The fundraise comes more than a year after a period of regulatory and business disruption. In October 2024, the Reserve Bank of India directed Navi Finserv, the company’s lending arm, to stop sanctioning and disbursing loans, citing supervisory concerns, including excessive pricing.
The restrictions were lifted in December 2024 after the regulator said the company had revamped processes and systems and committed to adhering to regulatory guidelines.
Queries sent to Navi, Accel, and Prosus did not elicit a response till press time.
The development marks a shift in Navi’s capital-raising plans.
The company was preparing for an IPO last year. Bansal told ET in February 2025 that Navi was engaging with bankers to decide the right timing for a listing. Navi had received Sebi’s approval in September 2022 for a Rs 3,350-crore IPO, but did not go ahead with the issue at the time.
ET reported in April 2024 that Navi was in talks to raise $200-300 million from private investors at a valuation of around $2 billion. That did not materialise. Bansal has never raised external capital for Navi despite multiple previous attempts and continues to own a large majority stake in the company.
On May 10, ET reported that Navi Finserv posted operating revenues of Rs 654 crore for the quarter ended December 31, 2025, up 14% year-on-year, while net profit rose 21.7% to Rs 75.5 crore. Navi Limited, the broader group entity, had reported a net loss of Rs 126.3 crore in FY25, against a profit of Rs 168.9 crore in FY24.
For FY26, Navi Finserv reported a 32% rise in net profit, at Rs 292 crore, while operating revenues stood at Rs 2,461 crore.
The company has been raising debt though. In July 2025, Navi Technologies raised Rs 170 crore through non-convertible debentures (NCDs) led by PhillipCapital, with NDX Financial Services, Arpee Commercial Company, Ambit Finvest, and Grey Grass India among the other investors. In 2024, Navi had raised around Rs 950 crore through NCDs.
Navi offers personal loans, home loans, loans against property, health insurance, mutual funds, and UPI-based payments. The company was rebranded from Navi Technologies to Navi Limited in August 2025, reflecting its shift from a technology-focussed entity to a broader financial services platform.
In February 2025, Bansal became the executive chairman, with Abhishek Dwivedi taking over as chief executive of Navi Finserv and Rajiv Naresh becoming chief executive of Navi Technologies.
