Sachin Bansal-led Navi In Talks To Raise $200-300 Mn At $2 Bn Valuation: Report
Sachin Bansal, the co-founder of Flipkart and now leading fintech startup Navi Technologies, is reportedly in talks with investors to secure a funding round between USD 200 million and USD 400 million, valuing the company at USD 2 billion, as per media reports.
According to media reports, the deal remains in the negotiation phase and could undergo changes in size before finalisation.
If successful, this funding round would mark a significant milestone for the Bengaluru-based startup. Navi, led by Sachin Bansal and Ankit Agarwal, initially focused on digital lending through its NBFC subsidiary, 'Navi Finserv,' and later expanded into micro-financing.
Despite its growth trajectory, Navi faced challenges last year, reportedly leading to layoffs across multiple departments. However, the company continues to navigate the fintech landscape, aiming to leverage its expertise to cater to the evolving needs of customers.
Meanwhile, Sachin Bansal's former Co-founder at Flipkart, Binny Bansal, officially departed the e-commerce giant's board earlier this year after more than 16 years of service.
Binny has since announced a new venture, 'OppDoor,' focused on aiding ecommerce companies in global expansion efforts by providing comprehensive solutions.
The developments underscore the dynamic nature of India's startup ecosystem, with prominent figures like Sachin and Binny Bansal continuing to make waves with their entrepreneurial endeavors.
