Fintech startup Kiwi has raised $24 million (Rs 208 crore) in its Series B funding round, while B2B commerce firm WizCommerce has raised $8 million in Series A funding.
Vertex Ventures leads Kiwi’s $24m round
Fintech startup Kiwi on Monday announced that it has raised $24 million (Rs 208 crore) in its Series B funding round led by Vertex Ventures South East Asia & India.
The funding also saw participation from Nexus Venture Partners, Stellaris Venture Partners, and Omidyar Network, the startup said in a statement.
The fresh capital will be deployed to accelerate Kiwi’s growth journey, advance its product road map, and sharpen its focus on building sustainable unit economics, the statement added.
“As credit on UPI gains momentum, our vision is clear — we want Kiwi to be the go-to-platform for users by delivering an unmatched experience across onboarding, payment convenience, and rewards. The fresh capital will enable us to double down on this commitment, supported by robust product innovations. In the long term, we want to be at the forefront of shaping the ‘Credit-on-UPI’ category impacting the lives of millions in every corner of India,” said Anup Agrawal, Co-founder and CEO of Kiwi.
Founded by Siddharth Mehta, Mohit Bedi, and Anup Agrawal, Kiwi enables access to credit lines through UPI. Since its launch in 2023, 2 lakh RuPay credit cards have been issued on Kiwi and over 5 million merchant transactions are being processed monthly across 600 cities in India.
The company has partnered with YES bank and AU Bank and plans to onboard two more large banking partners within this financial year. Over the next two years, Kiwi aims to issue 1 million RuPay credit cards.
Peak XV leads funding in WizCommerce
WizCommerce, a sales and e-commerce platform for wholesale distributors, has raised $8 million in Series A funding led by Peak XV Partners (formerly Sequoia India), with participation from Blume Ventures, Z47, and Alpha Wave.
The funding will fuel WizCommerce’s continued expansion across the US and accelerate development of its AI-powered platform for sales, commerce, and B2B payments, it said in a statement.
Founded by Divyaanshu Makkar (ex-Bessemer Venture Partners, ex-EY-Parthenon) and Vikas Garg (ex-Zomato), WizCommerce brings together sales reps, marketers, and buyers on one system, combining AI-powered quoting, intelligent storefronts, ERP integrations, lifestyle image generation, and embedded payments.
WizCommerce is actively hiring across engineering, AI, product, and GTM functions, with hubs in the US. and India.
