Fintech firm Kiwi raises Rs 108 crore in funding round led by Omidyar Network India

NEW DELHI: Fintech company Kiwi has raised $13 million (about Rs 108 crore) in a funding round led by Omidyar Network India. Existing investors Nexus Venture Partners and Stellaris Venture Partners also participated in this round, according to a release.

The latest fundraise will enable Kiwi to further expand its 'credit cards on UPI' offerings in India.

"Kiwi raises $13 million in a series-A round led by Omidyar Network India to expand the 'credit on UPI' landscape in India," the release said.

Kiwi, founded in November 2022, says it is the first fintech company in India to launch 'credit cards with UPI' by issuing digital RuPay Cards in collaboration with banks.

Its mobile application provides users with the ability to make secure payments using either a credit card or a bank account directly through their phones.

Certified by the NPCI as a licensed UPI third party app, Kiwi previously had secured $6 million in funding from prominent investors including Nexus Venture Partners, Stellaris Venture Partners, and a group of angel investors.