Credit-on-UPI fintech firm Kiwi’s Cofounder, Mohit Bedi, has stepped down from his position as chief business officer (CBO) and transitioned into an advisory role in the company, according to two people in the know.
Bedi, who is stepping down for personal reasons, will continue to be in the firm till July this year, following which, he is likely to exit the company which he cofounded with Anup Agrawal and Siddharth Mehta in 2022.
Sources in the know also said that Bedi will retain his equity stake within Kiwi. He is likely to launch a new firm within the fintech sector.
“Mohit Bedi, Cofounder of Kiwi, has decided to step back from his executive role due to personal and family commitments. He will continue to retain a significant equity stake in the company, reflecting his confidence in and association with Kiwi’s long-term growth. The leadership team and strategic priorities remain unchanged,” Kiwi said in a statement to Business Standard.
Bedi previously worked in fintech PayU and in Axis Bank. At Axis Bank, he was the senior vice-president (SVP) and business head — acquiring and commercial cards.
He cofounded Kiwi drawing from his experience in cards and payments, he had told Business Standard earlier. The company enables UPI transactions and offers credit-based use cases on the platform.
It has partnered with four banks; AU Small Finance Bank, Yes Bank, Axis Bank and Punjab National Bank (PNB). Kiwi claims to have issued more than two lakh credit cards through its platform in partnership with lenders.
Last month, the firm appointed industry leader Sumeet Basrani as its CBO.
In 2025, it raised $24 million in a Series B funding round, led by Vertex Ventures South East Asia & India. The round also saw participation from Nexus Venture Partners, Stellaris Venture Partners, and Omidyar Network.
It raised $13 million in a Series A funding round in November 2023. With the Series B round, the company has mopped up a total of $43 million in funding.
CEO Anup Agrawal had told Business Standard last year that the company was targeting profitability in two years.
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