Sachin Bansal: I'm all in, I want to build Navi for the next 20 years, and I've never wanted to sell Flipkart

Sachin Bansal

Sachin Bansal

When you walk into the new office of Navi Technologies, which he co-founded with his college friend Ankit Agarwal in December 2018, six months after quitting his first venture Flipkart, which Walmart bought for $16 billion the same year, it's easy to miss Sachin Bansal, one of India's most well-known startup entrepreneurs.Sachin doesn't have a cabin; instead, he sits bent over his laptop, surrounded by rows of staff, 60% of whom have returned to work.He also doesn't wear spectacles, a jacket, or a branded sweatshirt.

He is 25 kg lighter and wears a plain black t-shirt with trousers. "During the lockdown, I started working out. I used to weigh 100 kilogrammes "he declaresNavi is based in Koramangala, the Bengaluru suburb where Sachin and Binny Bansal co-founded Flipkart over 15 years ago, a company that went on to become India's biggest e-commerce player and inspire a generation of entrepreneurs. Sachin claims he never expected to quit Flipkart and that he now intends to turn Navi into a financial services juggernaut over the next two decades.

Even as it waits for regulatory approval for a universal banking licence, it now offers lending, general insurance, mutual funds, and microfinance. While it has made a number of acquisitions to gain access to markets such as microfinance, insurance, and mutual funds, it now aims to construct a bank from the bottom up, with its own technology stack. According to Bansal, the bank will be able to service a billion Indians.Bansal discussed the performance of Navi's businesses with Moneycontrol, as well as how his bank will be different, his progress as an entrepreneur, critical learnings from Flipkart, and why India will become the world's talent factory.

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