CCI Clears Prosus Stake in Navi Fintech
India's competition regulator, the CCI, has approved Prosus's plan to buy a stake in Navi, the fintech firm led by Sachin Bansal. The approval follows Navi's $100 million fundraise from the Dutch investment group in August. The deal deepens Prosus's presence in India's digital finance sector.
Quick glossaryProsus, CCI, fintech
- Prosus
- A Dutch investment group that holds large stakes in technology companies around the world.
- CCI
- The government body that checks whether big company deals would hurt fair competition between businesses.
- fintech
- Short for financial technology, meaning online apps and software that deliver banking, lending and payment services.
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