Kiwi Strengthens Leadership with Sumeet Basrani as Chief Business Officer

Fintech startup Kiwi has made a significant addition to its leadership team by appointing Sumeet Basrani as the Chief Business Officer. This move marks the company’s transition from early product adoption to a concerted effort towards large-scale distribution of credit via UPI, supported by partnerships with banks and ecosystem players.

Sumeet Basrani’s Extensive Experience

Sumeet brings with him more than 15 years of extensive experience in the fields of cards and payments, having previously held positions in notable organisations such as CRED, OneCard, ICICI Bank, and Visa. His most recent role involved playing a pivotal part in developing and expanding CRED’s partnerships in credit cards, payments, and financial lending through collaboration with banks and financial institutions.

Expanding Market Focus

The upcoming phase for Kiwi is centred around broadening its market by enabling credit access through UPI for millions of Indians. The company aims to shift from being product-driven to achieving market scalability while keeping pace with the changing consumer behaviour.

Sumeet Basrani’s Vision

Regarding his new role, Sumeet Basrani noted that the landscape of credit on UPI is at a critical juncture, with early signs of adoption already evident. He emphasised that the genuine opportunity lies in seamlessly integrating credit into everyday payments and enhancing access for users.

About Kiwi

Founded in 2022 by Siddharth Mehta, Mohit Bedi, and Anup Agrawal, Kiwi allows users to utilise RuPay credit cards through UPI, thus providing the convenience of credit alongside UPI’s extensive merchant acceptance.

Series B Funding Success

In August of the previous year, Kiwi successfully raised $24 million in its Series B funding round, led by Vertex Ventures, achieving a valuation exceeding $100 million.