Sachin Bansal-founded Navi Technologies has acquired Bengaluru-based Mavenhive

Sachin Bansal founded Navi has acquired Mavenhive, a Bengaluru based technology consulting company. Going forward, the Mavenhive team along with its founders will join the Navi team.

“This acquisition will add great capability to our ambitions to build cutting edge technology platforms that can take applications to scale. This acquisition will add to Navi’s technology capabilities,” said Sachin Bansal, CEO, Navi. The financials of the deal were not revealed by Bansal.

Sachin Bansal. Image: Getty Images

Mavenhive was started in April 2012 and was focussed on technical consulting and product development at startups and other corporate entities. Founded by Bhavin Javia and Anandha Krishnan, Mavenhive had a team of seasoned software professionals which has helped multiple tech startups to scale up like Flipkart, GoJek, Grasshopper, and Scripbox among others.

Javia has over 15 years of experience in software consulting and product development. He has expertise in using technology innovations to transform businesses. Further, Krishnan brings in experience in product development, enterprise software consulting and others to the table through the acquisition.

Bansal started Navi, formerly known as BACQ Acquisitions with his IIT Delhi classmate Ankit Aggarwal, who was previously a director at Bank of America. Navi has made investments in multiple startups like Ola, Bounce, Krazybee. It has also acquired CRIDS, a microfinance company in Bengaluru. Bansal, since his billion-dollar exit from Flipkart, has been aggressively placing his bets in the financial services space. Eventually, the company wants to foray into lending and financial services taking it simplified through technology.

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