Kiwi Cofounder Mohit Bedi Steps Down from Executive Role After Four Years

Mohit Bedi, cofounder of fintech startup Kiwi, has stepped down from his executive responsibilities after four years of building the company. In a recent update, he shared that he will now focus on personal and family commitments while continuing to remain closely associated with the company as an advisor and long-term shareholder.

The transition marks a shift in leadership dynamics at Kiwi, with day-to-day operations now being led by cofounders Anup Agrawal and Siddharth Mehta. The company is said to be in a strong position, with steady growth, a solid team, and a clear long-term vision. This leadership change comes at a time when the fintech startup is expanding its footprint in India’s rapidly evolving digital payments ecosystem.

Following his step back from operational duties, Bedi plans to focus on advisory roles, funding initiatives, and angel investing. He has already begun supporting several early-stage startups, indicating a shift toward mentorship and ecosystem development within the startup space. His continued involvement as an advisor ensures that his strategic insights and industry experience will still contribute to Kiwi’s growth trajectory.

Before cofounding Kiwi, Bedi built an extensive career in the financial services sector. He spent over seven years at Axis Bank, where he held senior leadership roles, including senior vice president and business head positions. During his tenure, he managed both credit and debit card portfolios, gaining deep expertise in consumer financial products and merchant acquiring.

In 2022, he joined PayU as a senior vice president, where he worked on strategic initiatives and played a role in operations related to the Bharat Bill Payment System. His experience across banking and fintech provided a strong foundation for building Kiwi into a next-generation payments platform.

Founded in 2022, Kiwi has quickly emerged as a notable player in India’s fintech ecosystem. The company raised $24 million in a funding round led by Vertex Ventures in August last year. The round also saw participation from prominent investors such as Nexus Venture Partners, Omidyar Network, and Stellaris Venture Partners. This funding has supported the company’s efforts to scale its product offerings and expand its reach across the country.

Kiwi’s core offering focuses on enabling credit-based payments through India’s Unified Payments Interface (UPI). The company issues RuPay credit cards in partnership with Yes Bank and AU Small Finance Bank, allowing users to make seamless payments using UPI. This integration bridges the gap between traditional credit systems and modern digital payment methods, offering consumers greater flexibility.

In addition to credit cards, Kiwi also provides UPI-based credit lines in collaboration with banking partners. This feature enables users to access pre-approved credit directly through their UPI-linked savings accounts, combining convenience with short-term financing options. The model reflects a broader trend in India’s fintech sector, where companies are innovating to merge credit accessibility with digital payment infrastructure.

Since launching its platform in 2023, Kiwi has demonstrated rapid growth. The company reports having issued around 200,000 RuPay credit cards and currently processes more than 5 million merchant transactions each month. Its services are now available across over 600 cities in India, highlighting its expanding reach beyond major urban centres.

The leadership transition at Kiwi reflects a broader trend in the startup ecosystem, where founders increasingly move into strategic or advisory roles after establishing a strong operational foundation. This allows companies to benefit from fresh leadership perspectives while retaining the experience and guidance of their founding members.

As Kiwi continues to scale its operations and innovate in the digital payments space, the company’s ability to maintain growth momentum will depend on execution, partnerships, and evolving consumer adoption of credit-based payment solutions. Bedi’s transition, while marking the end of an operational chapter, signals a continued commitment to the company’s long-term success and the broader fintech ecosystem.