Andreessen Horowitz has increased its stake in Navan, buying US$9.3 million worth of shares after the company’s stock price fell sharply post-IPO.

Navan, a US-based fintech and corporate travel platform, saw its shares drop over 50% from its initial US$6.7 billion valuation after its October IPO.

Regulatory filings show Andreessen Horowitz purchased 702,395 class A shares between December 17 and 19, 2025 at prices between US$12.65 and US$14.70 per share.

Navan’s market cap dropped to about US$3.2 billion last week following its first earnings report as a public company, which showed Q3 revenue up 29% year-on-year to US$195 million, but a net loss widening to US$225 million.

🔗 Source: Calcalist