Business

Sachin Bansal to focus on investments in fintech firms, says report

Updated : January 21, 2020 03:38 PM IST

Bansal had earlier invested Rs 888 crore in Navi Technologies, formerly known as BaCQ, mainly to fund startups in the financial sector.

World Bank’s investment arm IFC announced that it will invest approximately $30 million in Navi Technologies.

Flipkart co-founder Sachin Bansal is all set to bet on financial services space, reported Business Standard.

Bansal told the paper that while he did some initial investments in various energy and transport startups such as Ola and Ather Energy, his future investments will be concentrated on the fintech segment, particularly microfinance, mutual fund and banking.

“Now I am going to completely focus on financial services. Along with International Finance Corporation, I am also going to be putting most of the capital…in it,” he was quoted as saying in the report.

Earlier, World Bank’s investment arm IFC announced that it will invest approximately $30 million in Navi Technologies, a company formed by Bansal, the report said. Bansal had earlier invested Rs 888 crore in the company, formerly known as BaCQ, mainly to fund startups in the financial sector.

Bansal, who exited Flipkart after Walmart bought a 77 percent stake back in 2018 has accelerated his investments, particularly in finance. He has made several bets in the financial sector, and besides Chaitanya India Finance, has pumped money into financial players such as Altico Capital, Indostar Capital Finance, U Gro Capital and fintech startups such as Kissht and KrazyBee, according to data from Venture Intelligence.

Sachin Bansal to focus on investments in fintech firms, says report

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