Fintech startup Kiwi is going through an important leadership change as co-founder and Chief Business Officer Mohit Bedi has stepped down from his executive role after four years.
Smooth Transition, No Major Changes
Bedi will now move into an advisory role and is expected to stay with the company till July 2026. In his LinkedIn post, he said he wants to spend more time on personal and family priorities.
Even after stepping back from daily work, he will continue to hold a strong equity stake in Kiwi. He also shared that he believes the company is in a strong position with a solid team and clear vision. Kiwi has made it clear that this is a smooth transition and not a disruption. CEO Anup Agrawal and co-founder Siddharth Mehta will now handle day-to-day operations. The company has also appointed Sumeet Basrani, a former Cred executive, as the new Chief Business Officer.
What Mohit Bedi Plans Next
Going forward, Bedi plans to focus on advisory roles, investments, and angel funding. He has already invested in a few early-stage startups and wants to be more active in this space.
There are also reports that he may start a new fintech venture in the future, although nothing has been officially confirmed yet. Before Kiwi, Bedi worked in senior roles at Axis Bank and PayU, where he gained strong experience in digital payments and credit.
Kiwi’s Growth and Challenges
Founded in 2022, Kiwi works in the “credit-on-UPI” space, offering virtual RuPay credit cards that can be linked to UPI accounts. The company has partnered with banks like AU Small Finance Bank, Yes Bank, Axis Bank, and Punjab National Bank, and has issued over 200,000 cards.
Kiwi is growing fast and currently processes more than 5 million transactions every month across 600 cities in India. The startup has raised around $43 million so far, including a $24 million Series B round. However, the company is also facing financial pressure. In FY25, its revenue stood at ₹3.8 crore, while losses increased sharply to ₹64.2 crore. Despite this, Kiwi’s leadership is confident about reaching profitability in the next two years. Bedi’s exit also reflects a larger trend where many startup leaders in India are stepping into new roles as companies continue to grow.