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⚫ Credit card management solutions startup @gokiwinow secures $13 Mn (INR 108 Cr) funding in a round led by Omidyar Network India.
⚫ The Bengaluru-based startup plans to deploy the fresh proceeds to scale up its 'credit cards on UPI' offerings across the country.
As a licensed UPI third-party app ("TPAP'), certified by National Payments Corporation Of India (NPCI), Kiwi presently boasts a portfolio of 25,000 issued credit cards and aspires to onboard 5 Lakh customers by the end of 2024.
⚫ Launched in November 2022, Kiwi introduced "credit cards with UPI" by issuing digital RuPay Cards in tandem with banking institutions. Its mobile application empowers users to execute secure payments, utilising either a credit card or a bank account directly through their smartphones.
#funding #startup #fintech #india #startupnews #news #credit #NPCI #digital #tech #technology #business #businessnews #growth #expansion #entrepreneurs #entrepreneurship #payments #bank #smartphones #UPI #creditcards #SiddharthMehta #MohitBedi #AnupAgrawal #Startup #Business #Explore #ExplorePage #StartupStory #YourStory #InsiderBaba
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▾ Hospitality unicorn @oyorooms is looking to raise $250 Mn from investors amid the delay in its initial public offering (IPO).
▾ A substantial portion of this funding will be allocated to settle OYO's $660 Mn term loan B.
▾ The startup also plans to offer secondary shares at a reduced price compared to the primary capital raise valuation to make the funding round more attractive for the investors.
▾ OYO, which first filed its DRHP in 2021, took the confidential route to pre-file its draft documents earlier this year. It also cut the IPO size to $400-$600 Mn.
#Hospitality #Unicorn #OYO #RiteshAgarwal #Valuation #Startup #InsiderBaba
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