Navi in talks for $40 million from Elevation
By Abha Lohia ·
- Navi, the fintech founded by Flipkart co-founder Sachin Bansal, is negotiating roughly $40 million from venture firm Elevation
- The talks value Navi near $1.4–1.5 billion and are separate from the $100 million Prosus invested in August
- The company is also preparing a listing meant to raise around $300 million, with four banks appointed
What happened
- Navi is in advanced talks to raise about $40 million.
- The cheque would come via Elevation Holdings, Elevation's late-stage arm.
- Valuation under discussion is $1.4–1.5 billion.
- It is a new round, apart from Prosus's $100 million.
- Neither company had commented.
Why it matters
- Navi is preparing an IPO of around $300 million.
- The listing could value it near $2 billion.
- Elevation has a $400 million late-stage fund.
The business
- Fintech company led by Sachin Bansal.
The founders
- Flipkart co-founder
Who put in money
- Elevation Prospective investor — Late-stage arm Elevation Holdings
- Prosus Earlier investor — $100M in August
What happens next
- IPO preparations continue.
Earlier rounds
- Prosus: $100M (Aug 2026)
Terms in this story
- Co-founder equity: Split equity by what each founder will contribute from now on, not by who had the idea, and attach vesting so that anyone who leaves early does not keep a large share for doing little.
More on Navi
- NANavi · Results · 24 September 2026Fintech startup Navi reports wider net loss for fiscal year
- NANavi · Funding · 17 August 2026 · $100 millionNavi raises $100 million from Prosus
- NANavi · IPO · 6 July 2026 · Rs 3,000 croreNavi plans IPO by January-March 2027, seeks ₹3,000 crore raise
- NANavi · Funding · 9 June 2026 · $250-300 millionNavi discusses funding round with Prosus and Accel
- NANavi · News · 15 April 2026 · ₹50 Cr-₹150 CrNavi uses IPL 2026 for full-funnel growth strategy
- NANavi · Launch · 17 March 2026Navi launches motor insurance vertical
- NANavi · Results · 9 March 2026Navi posts Rs 126 crore loss in FY25
- NANavi · IPO · 19 January 2026Fintech firm Navi eyes public listing in coming months
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