Indian Fintech Startup Kiwi Secures $13 Million in Series A Funding

Indian fintech startup Kiwi announces $13 million in Series A funding, led by Omidyar Network India. Known for introducing 'credit cards with UPI,' Kiwi collaborates with banks to issue digital RuPay cards, advancing the Indian financial industry.

The mobile app offers versatile payment options, allowing transactions through credit cards or direct bank transfers. Licensed by NPCI, Kiwi emphasizes adherence to stringent financial regulations, ensuring secure services.

The funding will fuel Kiwi's expansion in India, strengthening its position as a leading fintech solutions provider. Kiwi aims to onboard 5 lakh consumers by 2024 and broaden partnerships with major institutions.

The startup asserts that the acceptance points for 'Credit on UPI' are thirty-five times larger than those of conventional credit cards, showcasing its commitment to revolutionize financial dealings in India.