Gaja Capital pumps Rs 204 cr in Sachin Bansal's banking venture Navi Tech

The Flipkart co-founder has also elevated himself as managing director, Navi.

Mid-sized private equity firm Gaja Capital has invested Rs 204 crore in Sachin Bansal’s fintech venture Navi Technologies, regulatory filings showed. The investor was allotted 14 million shares in Navi.

This is the second institutional investor Navi has brought on board. In January, International Finance Corp, a World Bank arm, said it was investing $30 in Navi for 4.5 per cent stake. 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.

According to March filings, Bansal infused Rs 3,007 crore in the firm, topped by Rs 40 crore from Navi co-founder Ankit Aggarwal, and some funds from angel investors, including Ramesh Sundare, Sharad Sundarmony, Nitin Jagpratap and Sunil Edward, among others.

Courtsey : Business Standard