Mohit Bedi, cofounder and CBO of fintech startup Kiwi, has stepped down from his executive position citing personal reasons. 

In a LinkedIn post, Bedi said he will stay closely involved with the startup as an advisor and long-term shareholder. 

On the professional front, Bedi said he plans to take up advisory roles, funding and angel investing. 

Founded in 2022 by Bedi, Siddharth Mehta, and Anup Agrawal, Kiwi issues virtual RuPay credit cards, in partnership with banks, and enables users to link those cards to their UPI account, offering “credit‑on‑UPI”. Once linked, users can use their Kiwi‑issued RuPay card like a regular UPI payment method.  

Kiwi generates revenue by enabling credit-on-UPI transactions, earning via processing fees, rewards partnerships, and merchant commissions.

In FY25, the startup recorded an operating revenue of ₹3.8 Cr against ₹3.6 Cr in FY24. Its net loss zoomed 158.8% to ₹64.2 Cr during the year from ₹24.8 Cr in the previous fiscal year, as its expenses skyrocketed.  

Last year, Kiwi raised ₹208.5 Cr in its Series B funding round, led by Vertex Ventures, to boost its growth, advance product roadmap and sharpen its focus on building sustainable unit economics. 

The startup has raised a total of around $43 Mn in funding till date. It counts Stellaris Venture Partners, Omidyar Network, and Nexus Ventures among its backers.

The development comes amid a rising wave of CXO-level exits and leadership changes across the Indian startup ecosystem. For instance, Policybazaar CEO and principal office Tarun Mathur recently resigned from his position citing personal commitments.

Similarly, home interior and innovation unicorn Livspace cofounder and India CEO Saurabh Jain also quit to pursue “personal interests” in February this year. 

Earlier this month, home appliance startup Atomberg also reshuffled roles among its cofounders, with Manoj Meena transitioning to the role of chairman and MD. Sibabrata (Shibam) Das will now serve as the CEO of Atomberg Technologies

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