Navi raises Rs 940 crore from Prosus; Sachin Bansal keeps 84.34%

Fintech company Navi has raised Rs 940 crore in a funding round led by Prosus, valuing the business at Rs 13,192 crore. Founder Sachin Bansal remains the largest shareholder with an 84.34% stake.

What the filings show

According to the company's regulatory filings, Navi issued 23,94,29,444 compulsorily convertible preference shares (CCPS) at an issue price of Rs 39.26 per share. Together, the allotment comes to roughly Rs 940 crore.

Prosus Ventures was the sole investor in the round. It invested through its subsidiary MIH Payments Holdings B.V., so no other new investors took part in this allotment.

Why it matters

Bansal's holding stays above 84% even after the new capital comes in, which shows how little ownership the founder has given up. For a fintech company, a large and concentrated founder stake means that decisions on strategy and future fundraising remain largely with him.

The round also adds a global technology investor to Navi's shareholder list at a time when funding for Indian financial services startups is being watched closely. A valuation of Rs 13,192 crore sets a fresh benchmark for the company.

Because the instruments are compulsorily convertible, the CCPS will eventually turn into equity, at which point the final shareholding split will be set. The company has not detailed in the material available how it plans to use the fresh capital.