Prosus N.V. is negotiating to co-lead a $250 million to $300 million funding round for Navi Technologies. Accel Growth Fund will reportedly join the investment in the Indian fintech firm founded by Sachin Bansal.
Navi Technologies plans to use the capital to expand its lending operations into Southeast Asia. The company is pivoting toward private funding after shelving its plans for an initial public offering.
This deal follows a period of regulatory challenges for Navi’s lending division. The investment would further expand Prosus’s existing portfolio in the Indian technology sector.