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Navi, Sachin Bansal’s Fintech Startup, Targets $2B Valuation in Inaugural External Fundraising Round

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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.

New App Store Guidelines: Excluding Video and News Partners from External Payment Options, Apple Takes Charging into Its Own Hands

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Apple this week updated its App Store rules to comply with a court order after the Supreme Court declined to hear the Epic Games-initiated antitrust case against Apple over commissions. This seems to skirt the court’s decision requiring Apple to remove the “anti-steering” clause from its agreement with App Store developers. But in its place is a complicated process that requires app developers to apply for permission to include their desired link or button, via something dubbed the StoreKit External Purchase Link Entitlement. Apple has used entitlements to set up exceptions to its App Store rules — for example, last year when it allowed “reader” apps (apps that provide access to digital content, like audio, music, video, book, and more) to point to an external website where customers could manage their accounts with the app developers. In the case of the new U.S.-based Link Entitlement, Apple is again demanding to first vet which applications can include external links and control how they’ve been implemented.