Tag: navi technologies

Sachin Bansal, Flipkart Co-founder appointed as Managing Director of Venture Navi Technologies

Sachin Bansal has made several investments into companies and start-ups such as Altico Capital, U Gro Capital, IndoStar Capital, Vogo, Bounce, KrazyBee, Ola, Bansal attended Indian Institute of Technology Delhi and completed a degree in Computer Engineering in 2005. After graduation, Bansal worked at Techspan for a few months and later in 2006 he joined Amazon Web Services as a Senior Software Engineer.

Sachin Bansal has been appointed as the Managing Director of his second Bengaluru-based Fintech venture– Navi Technologies earlier known as BACQ. He recently led an over Rs 3,000 crore round in his new venture. He co-founded Navi Technologies with Ankit Agarwal. Navi Technologies had earlier acquired a majority stake in Chaitanya Rural Intermediation Development Services (CRIDS) that is into the micro-finance space.

His giant size investment in the FinTech sector is an indication of an upcoming revolution in this specific industry. It includes investments into companies such as Altico Capital, U Gro Capital, IndoStar Capital, and the acquisition of mutual fund business of Essel Group.

Many of the high net-worth individuals and venture funds have invested in Navi Technologies. Recently, Gaja Capital had invested Rs 204 crore.

Sachin Bansal is most known as the co-founder of the e-commerce giant, Flipkart. However, in the year 2018, when Walmart acquired Flipkart, Bansal exited the company. Moreover, since the year 2014, Sachin Bansal has invested in 18 startups with teh deal size being 1-2 million dollars. In fact, in the year 2019, he invested 100 million dollars in Ola cabs wherein he received a stake of 0.37%.

As on february 2019, Sachin Bansal has already had investments in Unacademy, TeamIndus, Ola, Grey Orange, In Shorts, SigTuple, and Ather Energy.

Gaja Capital invests Rs 204 crore in Navi Technologies

Navi Technologies has made allotments of 1.45 crore equity shares, at a price of ₹140.5 per share. Three entities belonging to Gaja Capital, including Gaja Capital Fund-II, GCFII-B and Gaja Capital India AIF Trust have received the allotments. The latest private placement follows a fundraising of over Rs 3,000 crore by the company, led by Bansal and other investors earlier this month.

Sachin Bansal’s financial services startup Navi Technologies has raised ₹204 crore in fresh equity capital from Mumbai-based private equity firm Gaja Capital and other ultra-rich individual investors.

Co-Founder of Flipkart, Bansal is now also the managing director of Navi Technologies. Bansal has already invested over half of his wealth from Flipkart’s exit on Navi.

Bengaluru-based Navi Technologies has made allotments of 1.45 crore equity shares, at a price of ₹140.5 per share. Three entities belonging to Gaja Capital, including Gaja Capital Fund-II, GCFII-B and Gaja Capital India AIF Trust have received the allotments.

The latest private placement follows a fundraising of over Rs 3,000 crore by the company, led by Bansal and other investors earlier this month. It is, however, unclear if Gaja Capital’s investment is part of the same preferential allotment.

The firm Navi Technologies is not yet disclosing much about its future expansion plans rather than explaining their services. They are highly focussed on making financial services more simple, affordable and feasible for customers. Their website also gives the space and invite people to join in for their initiative.

Gaja Capital, promoted by Gopal Jain, has bets in Chumbak, Avendus Capital and Carnation, among others. The investment in Navi is part of a larger round, mostly subscribed by promoter Bansal.

Bansal has completed his education from well know IIT Delhi. Kickstarted his professional career early. He was previously working with Amazon web services and then joined Flipkart. Gradually became the CEO at Flipkart, he worked there for a total span of more than 10 years.