Credit-on-UPI fintech startup Kiwi’s cofounder Mohit Bedi has stepped down from his role as Chief Business Officer (CBO) and transitioned into an advisory position, according to sources familiar with the development.
Bedi, who is stepping down due to personal and family commitments, will remain with the company until July 2026, after which he is expected to exit. He will, however, retain a significant equity stake in the company, reflecting continued confidence in its long term growth.
Founded in 2022 by Anup Agrawal, Siddharth Mehta, and Mohit Bedi, Kiwi enables credit based transactions on UPI, allowing users to access credit while making everyday payments.
Bedi brings prior experience from PayU and Axis Bank, where he served as senior vice president and business head for acquiring and commercial cards.
The company has partnered with leading banks including AU Small Finance Bank, Yes Bank, Axis Bank, and Punjab National Bank, and claims to have issued over 2 lakh credit cards through its platform.
Recently, Kiwi appointed Sumeet Basrani as its new CBO.
On the funding front, Kiwi raised $24 million in a Series B round in 2025, led by Vertex Ventures Southeast Asia and India, with participation from Nexus Venture Partners, Stellaris Venture Partners, and Omidyar Network.
Earlier, the company had raised $13 million in Series A funding in November 2023, taking its total funding to $43 million.
Kiwi is targeting profitability within the next two years, as it scales its credit-on-UPI offerings in India’s rapidly growing digital payments ecosystem.
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