Prosus invests $100m in Indian fintech Navi

Dutch asset manager Prosus will invest $100 million in Indian digital financial services firm Navi. The funding is Navi’s first institutional equity raise and will support expansion of its payments and lending businesses. The investment is subject to customary closing conditions and regulatory approvals.

Navi plans to use the capital to scale product offerings and grow its customer base across its financial services units. Company executives expect the funds to accelerate rollouts of payments and credit products across India.

Prior to the deal, Navi reported a profitable quarter and managed assets exceeding $1.3 billion.

Sachin Bansal, founder and executive chairman of Navi Group, called the investment “a strong endorsement of the institution we’re building at Navi.” Ashutosh Sharma, Prosus’s head of Indian investments and M&A, highlighted Navi’s “technology-first approach to problem solving.”

The transaction requires approval from the Competition Commission of India and other applicable regulators. Navi and Prosus will complete the deal only after regulatory clearances and the satisfaction of customary closing conditions.