What Kiwi does

Kiwi (legally Gokiwi Technologies Private Limited) is an India-focused fintech founded in 2022 that operates a credit-on-UPI platform enabling RuPay credit cards to transact at merchant QR codes through any UPI app. The product is structured around co-branded card partnerships with three banks — YES Bank (Klick Card), AU Small Finance Bank (Kosmo Card), and Punjab National Bank (PNB Kiwi Card) — which together expose Kiwi to over 180 million potential bank customers across 10,000+ branches, with a deliberate emphasis on semi-urban and rural Bharat. Core proprietary technology includes an event-driven architecture for population-scale credit-on-UPI processing, AI-driven credit decisioning trained on behavioral rather than bureau data, a zero-trust security framework aligned with NPCI guidelines, and digital Video KYC onboarding that delivers instant virtual card approval. Cards are lifetime-free at the base tier, with an optional Kiwi Neon membership (₹999/year) unlocking 2–5% cashback, airport lounge access, and brand perks; a separate Kiwi Postpaid product extends a 45-day interest-free credit line on UPI powered by YES Bank.

The platform distributes exclusively through digital channels: a self-serve mobile app on Google Play and Apple App Store, plus embedded distribution via UPI apps (Google Pay, PhonePe, Paytm, BHIM). Marketing relies on a content-heavy blog, social media, app-store optimisation, and partner-bank co-marketing. Revenue is generated from a mix of interchange and transaction-fee shares with bank partners, Kiwi Neon subscriptions, and digital lending facilitation fees from RBI-registered NBFCs (YES Bank, PayU Finance). At last disclosure Kiwi has onboarded over 30 lakh customers, processed more than 2.3 crore cumulative transactions, and handles ₹100 Cr+ in monthly platform spends across 586+ cities. The company has raised approximately $43 million across pre-seed, Series A, and Series B rounds (the last at a $100M+ valuation in August 2024 led by Vertex Ventures), and operates with 11–50 employees out of Bengaluru.

The end customer base skews toward three primary segments: UPI-heavy daily spenders seeking cashback on QR transactions, first-time credit card users rejected by traditional banks, and semi-urban/rural consumers reached through the PNB partnership. Kiwi competes in an increasingly crowded credit-on-UPI category alongside CRED, POP, super.money, Navi, and KreditPe, but differentiates through bank-issued co-branded distribution, a lifetime-free pricing model, and bureau-light AI underwriting.

Name

Kiwi

Legal name

Gokiwi Technologies Private Limited

Website

https://gokiwi.in

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

251–500 employees

Short description

Kiwi is an India-focused fintech that runs a credit-on-UPI platform enabling RuPay credit cards from YES Bank, AU Bank, and PNB to transact at UPI merchant QR codes, serving over 30 lakh individual consumers across 586+ cities.

Ownership category

akta.pro rank

Product category

Digital Payments & Consumer Credit

NAICS

Credit Card Issuing (522210), Activities Related to Credit Intermediation (5223), Sales Financing (52222)

SIC

Finance Services (6199), Personal Credit Institutions (6141)

akta.pro primary industry

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

akta.pro secondary industries

Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA), A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)

Keywords

• Credit on UPI
• RuPay credit cards
• UPI payments
• Digital lending
• Fintech credit platform

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Transaction Fee Revenue: Kiwi earns interchange fees from credit card transactions processed through its platform when users make UPI payments using linked RuPay credit cards. The company shares a portion of transaction economics with bank partners.
2. Credit Product Partnerships: Revenue generated through partnerships with banks (YES Bank, AU Bank, PNB) for co-branded credit cards, including issuance fees, credit utilization revenue sharing, and partnership fees for customer acquisition.
3. Neon Membership Subscription: Premium subscription tier (Neon) at ₹999/year offering accelerated cashback rates (2% UPI, 5% on milestones), airport lounge access, and exclusive brand offers. This is an optional paid tier on top of the base free card.
4. Digital Lending Facilitation: Kiwi acts as a facilitator connecting borrowers with RBI-registered NBFCs/Banks (YES Bank, PayU Finance) for loan products including Express loans and Quick loans, earning facilitation fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Kiwi operates an all-in-one "Credit on UPI" platform that enables users to apply for and use RuPay credit cards for QR-based payments across the Unified Payments Interface ecosystem. Through co-branded partnerships with YES Bank, AU Bank, and Punjab National Bank, the company offers lifetime-free credit cards that earn direct cashback on UPI Scan & Pay transactions, complemented by an optional paid Neon membership tier and a Kiwi Postpaid credit line product.

Product overview

Kiwi is a credit-on-UPI platform operated by Gokiwi Technologies Pvt Ltd that enables users to apply for, link, and manage RuPay credit cards directly to UPI apps for QR-based merchant payments. The core product is the Kiwi RuPay Credit Card Platform, which distributes multiple co-branded credit cards in partnership with Yes Bank (Yes Bank Klick Credit Card), AU Small Finance Bank (AU Bank Kosmo Credit Card), and Punjab National Bank (PNB Kiwi Credit Card). All cards share the same UPI-first architecture: users scan merchant QR codes using their credit limit and earn cashback on eligible transactions. Kiwi Postpaid adds a credit line/BnPL layer on top, powered by YES Bank. The Kiwi Neon Membership is a paid add-on that boosts cashback tiers and unlocks airport lounge access across all card variants. The platform is 100% digital with video KYC onboarding, serving over 30 lakh customers across 586+ cities in India.

Differentiator

Problem solved

Functional benefit

Brands

• Kiwi Postpaid: A credit line on UPI product powered by YES Bank, allowing users to spend now and pay next month with 45 days interest-free billing cycle.
• Kiwi Neon

Products and services

• YES Bank Klick Credit Card (via Kiwi) A lifetime-free RuPay credit card issued in partnership with Yes Bank, offering 1.5% cashback on UPI Scan & Pay transactions and 0.5% on online payments. Targets individual consumers in India who want to earn rewards on everyday UPI QR-based payments.
• AU Bank Kosmo Credit Card (via Kiwi) A lifetime-free RuPay credit card issued in partnership with AU Small Finance Bank, offering 1.5% cashback on UPI Scan & Pay transactions, 0.5% on online payments, and 1% fuel surcharge waiver. Designed for individual consumers seeking cashback rewards on UPI payments.
• PNB Kiwi Credit Card A lifetime-free virtual UPI credit card issued in partnership with Punjab National Bank on the RuPay network, offering 1.5% cashback on UPI Scan & Pay, 0.5% on online payments, and 1% fuel surcharge waiver. Targets PNB's customer base, including semi-urban and rural segments.
• Kiwi Postpaid (Credit Line on UPI) A buy-now-pay-later and credit line product powered by YES Bank allowing users to make UPI payments using credit and repay on a 45-day interest-free billing cycle. Targets individual consumers who want short-term credit for UPI transactions without a physical card.
• Kiwi Neon Membership A paid premium membership at ₹999/year (plus GST) that enhances cashback rates on Kiwi credit cards: UPI cashback increases from 1.5% to 2%, milestone cashback of 5% on spends over ₹1.5L annually, complimentary domestic airport lounge access (3 visits/year), and exclusive brand offers.
• Digital Lending Facilitation A lending facilitation service connecting Kiwi users with RBI-registered lenders (YES Bank, PayU Finance) for personal loan products including Express Loans and Quick Loans, accessible within the Kiwi app.

Quantifiable outcome

• 30 lakh+ customers onboarded across 586+ cities
• +4 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability4 records

Feature6 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Punjab National Bank (PNB)coreStrategic or Co-development Partner · 1 April 2026Kiwi's first public sector bank partnership, announced April 2026, launching the PNB Kiwi Credit Card on the RuPay network. The partnership targets PNB's 180 million customers and 10,000+ branches (60% in semi-urban/rural areas) to extend formal credit to underserved segments. Features fully digital onboarding, UPI integration, and 0.5-1.5% cashback on online transactions.
• YES BankcoreStrategic or Co-development PartnerPrimary bank partner issuing the YES Bank Klick Credit Card through Kiwi platform. YES Bank provides the credit infrastructure, regulatory licensing (RBI-registered), and card network backing while Kiwi provides the digital onboarding, UPI integration, and customer experience layer. The card is lifetime free and offers 1.5% cashback on UPI.
• AU Small Finance BankcoreStrategic or Co-development PartnerBank partner issuing the AU Bank Kosmo Credit Card through Kiwi platform. Similar co-branding arrangement with AU Bank providing credit backing and regulatory infrastructure, Kiwi providing the digital experience and UPI enablement. Card offers 1.5% cashback on UPI Scan & Pay and 0.5% on online payments.
• RuPay (NPCI)coreTechnology or IntegrationRuPay is India's homegrown card payment network operated by NPCI. All Kiwi credit cards run on the RuPay network, which is the only credit card network that supports UPI integration. RuPay's unique position as the bridge between traditional card rails and UPI infrastructure is fundamental to Kiwi's product offering.
• Unified Payments Interface (UPI) / NPCIcoreTechnology or IntegrationUPI is India's real-time payments infrastructure operated by NPCI. Kiwi's entire product is built on enabling credit cards to work within the UPI ecosystem, allowing users to make QR-based payments using credit at 10 crore+ merchant acceptance points.
• YES Bank (Lending)minorStrategic or Co-development PartnerBeyond card issuance, YES Bank also provides digital lending products through Kiwi platform including Express Loans and Quick Loans, positioning Kiwi as a broader financial services marketplace.
• PayU Finance India Private LimitedminorStrategic or Co-development PartnerRBI-registered NBFC providing digital lending products facilitated through Kiwi's platform. PayU Finance offers personal loans and other credit products integrated into Kiwi's app.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• CRED: India's leading premium credit card bill payment and rewards platform, with an expanding portfolio of credit, lending, and commerce products. Directly comparable to Kiwi as a UPI- and card-centric consumer fintech targeting the same high-engagement Indian credit card user.
• OneCard: Mobile-first metal credit card fintech in India with a co-branded issuance model (via Federal Bank and others) and UPI integration. Closely comparable to Kiwi's co-branded, app-led, UPI-first credit card proposition.
• Slice (formerly SlicePay): Indian fintech offering credit cards, BNPL, and personal loans to young professionals, with deep UPI integration. Comparable to Kiwi on target segment (young, digital-first Indian credit users) and product mix (card + lending on UPI).
• LazyPay: BNPL and consumer credit platform in India, owned by PayU. Kiwi's CEO Anup Agrawal is ex-LazyPay, and the BNPL/credit-line product (Kiwi Postpaid) directly mirrors LazyPay's pay-later model on UPI rails.

Broad incumbents

• Paytm: India's largest payments super-app with its own UPI app, PPI, merchant credit, and postpaid products. Comparable as a broad incumbent that can offer credit-on-UPI, lending, and card products at scale inside a much wider fintech portfolio.

Emerging players

• Jupiter: Digital banking fintech offering a UPI-first experience with credit, savings, and investments features. Comparable to Kiwi as a mobile-first consumer fintech leveraging UPI as the primary engagement surface for cross-sell of credit products.
• Navi: Indian fintech offering personal loans, home loans, insurance, and UPI-led payments via Navi Pay. Comparable to Kiwi in pursuing UPI as a distribution surface for credit products targeting mass-market Indian consumers.
• KreditPe: Newer UPI-credit fintech leveraging cashback as a gateway to lending and credit products. Directly named alongside Kiwi as a comparable UPI-credit peer with a similar cashback-led acquisition playbook.
• POP (by India Infoline / IIFL): UPI-led consumer fintech from IIFL offering payments, credit cards, and rewards. Comparable to Kiwi as a UPI-first rewards and credit platform targeting the same digital consumer.
• super.money: UPI-centric fintech providing credit, rewards, and commerce products. Directly named alongside Kiwi and KreditPe as part of the new wave of UPI-first credit platforms in India.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/gokiwinow
• YouTubeyoutube.com/@Kiwiappindia
• Facebookfacebook.com/people/GoKiwi/100094750146010
• LinkedInin.linkedin.com/company/gokiwinow
• Instagraminstagram.com/kiwiappindia

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kiwi