2b

Flipkart co-founder Sachin Bansal is in talks to raise capital for his new startup, Indian fintech Navi. Bansal is talking to investors to raise at a valuation of around $2 billion, three sources familiar with the matter told TechCrunch. The Bengaluru-headquartered startup Navi has been largely self-funded up to now — Bansal owns 97% of the company — and this would be its first large outside fundraise since it was founded in 2018. After a particularly rough 2023 in which overall startup funding fell 73% in the country, this could be a signal that growth stage funding rounds are back on the table. Even if this might become Navi’s first external raise, that doesn’t mean Bansal has not been talking to interested parties.