Indian payments app Navi raises $100M but at a lower valuation than hoped

Sachin Bansal's Navi, an Indian payments app, raised $100 million from investor Prosus at a $1.3 billion valuation — well below the $1.8–2 billion it wanted in 2024. Despite claiming profit late in the year, Navi lost $48.7 million overall. The gap suggests that having lots of payment users doesn't guarantee a high company value.