3 months ago
Aug 19 (Reuters) - Indian fintech startup Navi said on Wednesday it will raise $100 million from Dutch technology investor Prosus NV in its first institutional funding round, a deal that comes ahead of a planned initial public offering, a source familiar with the matter said.
Reuters could not determine the valuation at which Prosus made the investment. The investment values Navi at about $1.3 billion, the Economic Times reported on Wednesday, citing a person with direct knowledge of the matter.
Navi is seeking a valuation of about $2 billion in the IPO, the source said, declining to be named because the information is confidential. The company did not immediately respond to a request for comment on its IPO plans or valuation.
Navi was founded in 2018 by Sachin Bansal, a co-founder of Walmart-backed Indian e-commerce firm Flipkart. The company offers digital payments, lending, mutual funds and insurance through a digital platform.
The investment is subject to regulatory approvals, including from the Competition Commission of India, Navi said in a statement.
#navi #investment #reuters #matter
Reuters could not determine the valuation at which Prosus made the investment. The investment values Navi at about $1.3 billion, the Economic Times reported on Wednesday, citing a person with direct knowledge of the matter.
Navi is seeking a valuation of about $2 billion in the IPO, the source said, declining to be named because the information is confidential. The company did not immediately respond to a request for comment on its IPO plans or valuation.
Navi was founded in 2018 by Sachin Bansal, a co-founder of Walmart-backed Indian e-commerce firm Flipkart. The company offers digital payments, lending, mutual funds and insurance through a digital platform.
The investment is subject to regulatory approvals, including from the Competition Commission of India, Navi said in a statement.
#navi #investment #reuters #matter
3 months ago
Aug 19 (Reuters) - Indian fintech startup Navi said on Wednesday it will raise $100 million from Dutch technology investor Prosus NV in its first institutional funding round, a deal that comes ahead of a planned initial public offering, a source familiar with the matter said.
Reuters could not determine the valuation at which Prosus made the investment. The investment values Navi at about $1.3 billion, the Economic Times reported on Wednesday, citing a person with direct knowledge of the matter.
Navi is seeking a valuation of about $2 billion in the IPO, the source said, declining to be named because the information is confidential. The company did not immediately respond to a request for comment on its IPO plans or valuation.
Navi was founded in 2018 by Sachin Bansal, a co-founder of Walmart-backed Indian e-commerce firm Flipkart. The company offers digital payments, lending, mutual funds and insurance through a digital platform.
The investment is subject to regulatory approvals, including from the Competition Commission of India, Navi said in a statement.
#prosus
Reuters could not determine the valuation at which Prosus made the investment. The investment values Navi at about $1.3 billion, the Economic Times reported on Wednesday, citing a person with direct knowledge of the matter.
Navi is seeking a valuation of about $2 billion in the IPO, the source said, declining to be named because the information is confidential. The company did not immediately respond to a request for comment on its IPO plans or valuation.
Navi was founded in 2018 by Sachin Bansal, a co-founder of Walmart-backed Indian e-commerce firm Flipkart. The company offers digital payments, lending, mutual funds and insurance through a digital platform.
The investment is subject to regulatory approvals, including from the Competition Commission of India, Navi said in a statement.
#prosus
5 months ago
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European equity markets suffered a broad-based liquidation on June 8, as a global valuation reset in AI hardware collided with intensifying geopolitical instability.
The pan-European STOXX 600 index tumbled to hit a two-week low, with the technology sector leading the downward charge. A severe, high-volume rout in Asian and American tech portfolios over the weekend set a grim tone for continental trading desks, while a fresh exchange of missile strikes between Israel and Iran sent energy costs surging to place fresh inflation pressure on global central banks.
The optimism that had driven European technology indices to record heights earlier this quarter vanished rapidly on Monday morning. The STOXX Europe technology sub-index fell sharply in morning trading, finishing among the worst-performing industrial sectors on the continent. The local sell-off mirrored an aggressive risk-off sweep through global tech hubs, following a severe drop in the Nasdaq on Friday and a massive capitulation across Asian chip manufacturing hubs on Monday, where ***** an's Nikkei and South Korea's tech-heavy Kospi plummeted.
On the corporate front, Europe's premier technology hardware monopolies faced widespread selling pressure. Advanced semiconductor equipment giant ASML Holding NV slid in Amsterdam, while legacy software powerhouse SAP SE dropped in Frankfurt. Consumer internet conglomerate Prosus NV also shed value, tracking broader international ***** et de-ratings. The downward momentum extended heavily into cross-sector conglomerates exposed to data center investments, with automation leader Siemens AG and high-end aerospace manufacturer Safran SA both declining.
European equity markets suffered a broad-based liquidation on June 8, as a global valuation reset in AI hardware collided with intensifying geopolitical instability.
The pan-European STOXX 600 index tumbled to hit a two-week low, with the technology sector leading the downward charge. A severe, high-volume rout in Asian and American tech portfolios over the weekend set a grim tone for continental trading desks, while a fresh exchange of missile strikes between Israel and Iran sent energy costs surging to place fresh inflation pressure on global central banks.
The optimism that had driven European technology indices to record heights earlier this quarter vanished rapidly on Monday morning. The STOXX Europe technology sub-index fell sharply in morning trading, finishing among the worst-performing industrial sectors on the continent. The local sell-off mirrored an aggressive risk-off sweep through global tech hubs, following a severe drop in the Nasdaq on Friday and a massive capitulation across Asian chip manufacturing hubs on Monday, where ***** an's Nikkei and South Korea's tech-heavy Kospi plummeted.
On the corporate front, Europe's premier technology hardware monopolies faced widespread selling pressure. Advanced semiconductor equipment giant ASML Holding NV slid in Amsterdam, while legacy software powerhouse SAP SE dropped in Frankfurt. Consumer internet conglomerate Prosus NV also shed value, tracking broader international ***** et de-ratings. The downward momentum extended heavily into cross-sector conglomerates exposed to data center investments, with automation leader Siemens AG and high-end aerospace manufacturer Safran SA both declining.
