Prosus secures Indian regulatory approval for $100m investment in Navi
India’s competition regulator has cleared the acquisition of a stake in fintech firm Navi by Prosus-backed MIH Payments Holdings.
The Competition Commission of India (CCI) has approved a deal allowing MIH Payments Holdings BV, an investment vehicle of Prosus, to acquire a stake in Bengaluru-based fintech firm Navi Ltd. The transaction is valued at $100 million.
Navi, founded in 2018 by former Flipkart executive Sachin Bansal, operates across several financial verticals including lending, digital payments, insurance, and mutual funds. This capital injection represents the company’s first major institutional funding round since its inception.
For Prosus, the deal serves to deepen its presence in India’s growing digital financial services market. The firm already holds a significant footprint in the region through its payments arm, PayU. Prosus has previously signaled intent to scale its credit operations in the country as part of its wider financial technology strategy.
The approval clears a regulatory hurdle for Prosus, which is majority-owned by South African conglomerate Naspers, as it continues to deploy capital into emerging market fintech platforms.