The three-year-old fintech seems to think a listing will boost its chances of getting a bank licence. Does it stand a chance, given its missteps?
When Sachin Bansal cashed out of Flipkart with a billion dollars in the summer of 2018, the entrepreneur had made it clear he didn’t want to set up another startup. In November that year, inspired by the HDFC Bank app crash, he got his next big idea: to build a digitally oriented financial services conglomerate. He launched Navi Technologies in December of that year.
Three years on, Navi is nowhere close to being a conglomerate. It operates through a network of subsidiaries, most of which it acquired over the same three years.
On Saturday, Navi Technologies filed a draft red …
Ashwin covered fintech and banking at The Morning Context. Previously, he was at The Economic Times, where he worked across the finance, tech and startup verticals, breaking stories related to India’s banking system, startups in the new economy, digital payments, insurance and cryptocurrencies.
Writer
ashwin@mailtmc.com
Delhi