Funding News: Kiwi Secures $23 Million in Series B Round Led through Vertex Ventures

Company: Kiwi

Founders: Anup Agrawal, Mohit Bedi, Siddharth Mehta

About Us: Kiwi is a Mumbai-based fintech startup enabling users to make UPI payments using RuPay credit cards. The company issues virtual RuPay cards directly linked to popular UPI apps such as Google Pay and PhonePe, offering seamless credit-on-UPI solutions. Kiwi partners with Axis Bank and NPCI to provide a secure, scalable, and innovative payments experience, competing with players like Slice, OneCard, and Uni.

Founded Year: 2022

Office: Mumbai (Headquarters)

Sector: FinTech / Digital Payments

Funding Round: Series B

Investors: Vertex Ventures, Stellaris Venture Partners, Nexus Venture Partners

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Fintech startup Kiwi is raising $23 million in Series B funding from new and existing investors, according to sources familiar with the deal. The Mumbai-based company last raised funds nearly two years ago.

Vertex Ventures is leading the round with a term sheet already issued, while Stellaris Venture Partners and Nexus Venture Partners are also participating. The fresh infusion is expected to push Kiwi’s valuation beyond $100 million.

In November 2023, Kiwi closed a $13 million Series A round, led at that time through Stellaris and Nexus, which valued the company at around $65 million.

Website: https://www.kiwiup.com