Navi processed 947 Million UPI transactions worth Rs. 48,318 Crore in July 2026.
Prosus invested USD 100 Million in Navi at a reported valuation of about USD 1.3 Billion.
Navi plans a Rs. 3,000 Crore IPO after a previous IPO attempt stalled in 2023.
Sachin Bansal’s second big business now faces a major test. Navi, the fintech company he founded after Flipkart, has raised USD 100 Million from Prosus in its first institutional capital round. The deal comes ahead of a planned IPO and gives Navi fresh capital as it expands beyond loans into payments, insurance and mutual funds. Reuters says Navi seeks a valuation of about USD 2 Billion for the IPO, while the latest private deal values the company at about USD 1.3 Billion, based on reports from people familiar with the matter.
Bansal founded Navi in 2018 after his exit from Flipkart. Unlike Flipkart, which built its core business around online retail, Navi covers several parts of personal finance through one digital platform. Its services include personal loans, home loans, loans against property, insurance, mutual funds, bill payments and UPI payments.
The USD 100 Million deal also renews Bansal’s link with a familiar investor group. Naspers, the parent group behind Prosus at the time, had invested in Flipkart. Prosus sees Navi as a technology-led financial services platform with a large user base and several business lines. The transaction still needs regulatory approvals, with Competition Commission of India clearance among them.
Navi’s UPI business has become a key part of its strategy. In July 2026, Navi processed 947 Million UPI transactions worth Rs. 48,318 Crore. That result kept Navi in fourth place among India’s UPI apps by transaction volume, behind PhonePe, Google Pay and Paytm. Navi has used UPI as a customer-acquisition channel, while loans remain a major source of revenue.
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The strategy has also hurt short-term profits. Navi reported a total income of Rs. 3,091 Crore in FY26, while its consolidated net loss rose to Rs. 466 Crore from Rs. 126 Crore a year earlier. The company increased its UPI spend and spent more on newer businesses as it tried to reduce its reliance on loans.
The credit arm still shows stronger numbers. Navi Finserv ended FY26 with assets under management of Rs. 13,138 Crore. Its disbursals reached Rs. 23,287 Crore, while gross bad loans stood at 1.25%. Navi Finserv also reported a profit of Rs. 292 Crore for FY26. The figures show a clear split: credit provides core earnings, while newer products require more capital.
Navi now plans an IPO of about Rs. 3,000 Crore. The company plans to file draft papers with the Securities and Exchange Board of India in the March quarter of FY27, based on reports from people familiar with the plan. Kotak has received the mandate for the issue. The final mix of fresh shares and an offer for sale has not yet been set.
This would mark Navi’s second serious attempt at an IPO. The company received Sebi approval for a Rs. 3,350 Crore IPO in September 2022, but Bansal later put the plan on hold as technology stocks fell and market conditions weakened. The new attempt comes with a larger payments business and more financial products.
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Navi has shown that it can scale its credit business, but the wider platform still needs to prove its economics. Management has set a target for profitability in FY27 after the group reached consolidated profitability in the March quarter of FY26.
Finance brings credit losses, capital costs and strict regulation. Navi also relies heavily on personal loans, which made up about 90% of Navi Finserv’s credit portfolio, based on Business Standard’s report. The company must now prove that its wider product mix can create steady profits without too much pressure on its balance sheet.
Navi’s next phase will depend on more than its UPI numbers or its IPO value. The stronger signal will come from repeat financial activity and stable asset quality. If that model works at scale, Bansal could turn his post-Flipkart venture into a broad financial platform rather than another single-product fintech.
1. Who founded Navi?
Sachin Bansal, the co-founder of Flipkart, founded Navi in 2018.
2. What services does Navi offer?
Navi offers personal loans, home loans, loans against property, UPI payments, insurance, mutual funds, bill payments and other financial services.
3. How much did Prosus invest in Navi?
Prosus invested USD 100 Million in Navi, subject to regulatory approvals.
4. How large is Navi’s planned IPO?
Navi plans an IPO of about Rs. 3,000 Crore and expects to file draft papers with Sebi in the March quarter of FY27.
5. Is Navi profitable?
Navi’s consolidated net loss reached Rs. 466 Crore in FY26, while Navi Finserv, its lending arm, reported a profit of Rs. 292 Crore. The company targets profitability in FY27.