PE Fund Investments
Virtual credit card platform Kiwi raises $13-M from Omidyar, Nexus, Stellaris
Mumbai-headquartered fintech startup Kiwi has attracted USD 13 million as a part of its latest round of funding led by Omidyar Network India. Existing investors Nexus Venture Partners and Stellaris Venture Partners also participated in the round. This marks the second institutional fundraise for the firm founded in February 2023. The virtual credit card platform last raised USD 6 million in May, which saw participation from Nexus and Stellaris along with some angel investors. Kiwi issues virtual RuPay credit cards to users in partnership with Axis Bank, allowing them to link the card to the Unified Payments Interface (UPI) service on its app, and to make digital payments through the infrastructure. The company plans to deploy the fresh proceeds to launch newer products over the next year including no-cost equated monthly instalments (EMI) on UPI, and eventually start credit line on UPI.
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