People · Financial Services

Kiwi appoints Sumeet Basrani as chief business officer

By Startup Enthusiast · 25 March 2026

What they do

Kiwi issues RuPay credit cards usable on the UPI payment network for merchants

The company hired Sumeet Basrani to drive large-scale distribution through bank partnerships

Basrani joins after a recent Series B round that valued Kiwi above $100 million

Kiwi has appointed Sumeet Basrani as its new Chief Business Officer (CBO).
Basrani brings over 15 years of experience in the cards and payments industry.
He previously worked at CRED, OneCard, ICICI Bank, and Visa.
His role focuses on shifting strategy toward large-scale distribution via ecosystem partners.
The company aims to expand access to credit on UPI for millions of users.
Basrani views UPI credit as being at an inflection point for growth.
This move follows a $24 million Series B funding round raised in August 2025.
The funding round was led by Vertex Ventures with a valuation exceeding $100 million.

Basrani’s background in building partnerships at CRED aligns with Kiwi’s distribution goals.
The appointment signals a push to scale beyond early product adoption phases.
It reinforces Kiwi’s focus on integrating credit seamlessly into everyday transactions.

Kiwi provides RuPay credit cards that work directly on the UPI network.
Users can make payments at any merchant accepting UPI using their credit limit.
The product combines the convenience of credit cards with UPI’s wide acceptance.
The startup targets millions of users seeking easy access to consumer credit.
It operates in India’s growing digital lending and payments sector.
The business model relies on transaction fees and interest from credit usage.
Partnerships with banks are key to acquiring customers and managing risk.
The company leverages UPI’s infrastructure for instant and low-cost payments.
Growth depends on expanding the network of participating financial institutions.

Product: An app that issues RuPay credit cards and offers credit lines linked to the UPI network.
Customers: Individual consumers seeking the convenience of UPI payments combined with credit card limits.
How it makes money: Partners with banks to issue co-branded credit cards and credit lines, earning transaction-based fees.
What sets it apart: Pioneered Credit-on-UPI, allowing users to make credit-backed payments at any UPI-accepting merchant.