Fintech Startup Kiwi raises Rs 209 Cr in Series B round led by Vertex Ventures

Fintech startup Kiwi has raised Rs 208.5 crore (about $24 Mn) in its Series B funding round led by Vertex Ventures. 

Nexus Ventures, Stellaris Venture Partners and Omidyar Network (ON), also participated in this round.

Read also- Mythik appoints former Jio Games head Sidharth Kedia as COO

According to its filings with the MCA, Vertex Ventures SEA Fund V invested ₹113.2 crore in the startup, while Nexus Ventures VI and Stellaris Venture Partners India Trust II contributed ₹47.5 crore and ₹34.9 crore, respectively. ON Mauritius II also added ₹12.8 crore. In total, Kiwi issued 20,251 Series B CCPS shares to these investors.

The new funding comes almost two years after Kiwi raised $13 million in its Series A round in November 2023, led by Omidyar Network India with support from Nexus and Stellaris. It had also secured $6 million in seed funding in May 2023.With this latest round, Kiwi’s total funding so far is around $43 million.

About Kiwi 

Founded by Siddharth Mehta, Mohit Bedi and Anup Agrawal in 2022, Kiwi operates at the crossroads of credit cards and UPI payments. The fintech startup issues digital RuPay credit cards in partnership with Axis Bank, which users can link to their UPI accounts for digital payments.

As a licensed UPI third-party app provider (TPAP), Kiwi says it has processed 5.8 lakh merchant transactions across more than 586 cities in India.

Advertisment