Kiwi Fintech Startup Raises $13 Million USD Funding In Series A Round

Kiwi is a newly started fin-tech company. The main idea of the company is to provide credit cards on your smartphone. You can just pay by scanning the QR code through your credit card. The company has successfully raised $ 13 million in the Series A round. Everyone is curious to know more about the investments and the money raised along with the actual growth of the company. Kiwi just started 10 months ago in February 2023. Let us explore more about the company’s recent round.

Kiwi Fintech Startup Raises $13 Million USD Funding In Series A Round

Kiwi Funding: Raised $13 Million In Series A from Omidyar Network India

Kiwi has been successful in raising series A. Omidyar Network India has led the round. The main purpose of the funding is to use the amount in further expansion of UPI platforms in the country. Siddharth Mehta is the co-founder of the company. He has previously worked with Feechare and Axix Bank as well. UPI was started in India. Along with UPI, there is another system that Kiwi has launched. It will enable you to use your credit card with UPI. It sounds cool and innovative. You won’t need to keep your physical card with you. Everything will be in the app and on your smartphone. Kiwi recently got $13 million from the funding in the series A. Let us have details about Kiwi’s previous funding.

Kiwi Funding In Previous Rounds

Nexus Venture Partners has also invested $6 million in the company along with Stellaris Venture Partners. Kiwi is currently focusing on expanding its users all over the country. The funding amount will mostly be used to acquire the customer base. Credit cards are used by the middle class and higher class as well. The company’s founders mention that UPI credit cards can have a big scope. The company has a big target to achieve by next year. 25,000 people use Kiwi cards but the company wants to take the number to 5,00,000 customers in India.

The company has been working for a long time on the idea. They also collaborated with Axis Bank for a while. Omidyar Network leads the current round. The company deals in providing investments to companies in need. They support the growth of new and potential businesses. Kiwi is an impressive idea and people are adopting it. You can get your card instantly with Kiwi. There is a simple identification process for it. You can visit the official website of Kiwi to apply for their service. Stay tuned for more information.

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