Kiwi Fintech Secures ₹208 Crore in Series B Funding Round
Posted on August 25, 2025
Funding Breakthrough for Kiwi Fintech
Kiwi Fintech has successfully raised ₹208 crore (approximately $24 million) in its Series B financing round. This investment was led by Vertex Ventures Southeast Asia & India, with notable participation from Nexus Venture Partners, Stellaris Venture Partners, and Omidyar Network.
Capital Utilization to Fuel Growth
The newly acquired capital will be instrumental in accelerating Kiwi’s growth trajectory. The company plans to enhance its product roadmap and focus on building a sustainable economy. With innovative strategies in place, Kiwi aims to solidify its position in the rapidly evolving fintech industry.
Kiwi’s Impressive Journey Since 2023
Founded by Siddharth Mehta, Mohit Bedi, and Anup Agrawal, Kiwi has made remarkable strides since its inception in 2023. The company has issued 2 lakh RuPay credit cards and processes over 5 million merchant transactions monthly across 600 cities in India.
Strategic Partnerships for Enhanced Services
Kiwi has formed strategic partnerships with Yes Bank and other financial institutions. The company plans to integrate with two additional major banking partners, which will further enrich its service offerings and expand its reach in the market.
Ambitious Goals for the Next Two Years
In the next two years, Kiwi aims to issue 1 million RuPay credit cards. This initiative is part of a broader strategy to enhance its presence in the rapidly growing credit-on-UPI segment, catering to the changing needs of Indian consumers.
Vision for an Enhanced User Experience
Anup Agrawal, co-founder and CEO of Kiwi, expressed the company’s commitment to transforming the user experience in the credit-on-UPI space. “Our vision is clear—Kiwi aims to be the platform of choice for users by delivering an unbeatable experience through integrated payment rewards,” he said. The goal is to impact millions of lives across India.
Market Potential for Credit-on-UPI
With over 350 million unique UPI users in India, the market potential for credit-on-UPI offerings is substantial. This number is nearly 8 to 10 times greater than the current credit card user base. The acceptance network for Credit-on-UPI is also estimated to be 35 times larger than that of traditional credit cards.