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IFC to put $30 million in Sachin Bansal's Navi at $650 million valuation
short by Dharna / on Saturday, 11 January, 2020
World Bank arm International Finance Corporation (IFC) is looking to invest $30 million (₹210 crore) to pick a 4.5% stake in Navi Technologies, co-founded by Flipkart Co-founder Sachin Bansal. The transaction would value Navi at $650 million. IFC said the investment would help Navi transform microlender CIFCPL, which Bansal acquired last year, into a technology-led universal bank or Navi Bank.
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