Navi lands $40M from Elevation, two months after Prosus's $100M
What's the deal? Fintech startup Navi, led by Flipkart co-founder Sachin Bansal, is in advanced talks to raise about $40 million from Elevation. The sum equals roughly US$51.6M.
Why now? The round comes just two months after Navi raised $100 million from Prosus in August. The fresh investment is separate from that deal.
Who's backing it? The investment is likely to be made through Elevation HoldingsDealroom has a profile for this one. Try Dealroom →, the venture capital firm's late-stage investment arm, sources told MoneycontrolDealroom has a profile for this one. Try Dealroom →.
The signal: Back-to-back raises point to sustained investor appetite for Navi as it scales its fintech platform, with two large cheques landing inside three months.
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