Credit on Upi Fintech Kiwi has picked up £ 208 Crore ($ 24 million) in his series B finance round, led by Vertex Ventures Southeast -Asia and India, with participation of Nexus Venture Partners, Stellaris Venture Partners and Omidyar Network.
The new capital will be used to accelerate the growth beauty of Kiwi, to promote its product trout map and to sharpen its focus on building sustainable unity economy.
Founded by Siddharth Mehta, Mohit Bedi and Anup Agrawal, Kiwi since the launch in 2023, has issued 2 Lakh Rupay credit cards and more than 5 million trader transactions are processed monthly over 600 cities in India. The company works together with Yes Bank and AU Bank and is planning to get two large bank partners on board within this financial year.
In the next two years, Kiwi wants to issue 1 million Rupay credit cards, which strengthens his position as a leader in the fast-growing credit-on-Upi segment.
Anup Agrawal, co-founder and CEO of Kiwi, said: “If credit on UPI wins for Momentum, our vision is clear-we want Kiwi to be the go-to-platform for users through an unparalleled experience about the boarding, payment ease of convenience and rewards. India. “
Kanika Mayar, partner, Vertex Ventures Sea and India added: “We believe that credit card on UPI is a unique product that marries UPI’s deep penetration with the growing demand from India for map and credit products. We are enthusiastic about the vision of the leading players to grow to be highly credited to be too speaking in favor of the players to be a great credit. Adopt in India. “
Today India has more than 350 million unique UPI users, almost 8-10x the number of credit card users, and the acceptance network for credit-on-upi is estimated at 35 times larger than that of traditional credit cards.
Published on August 25, 2025
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