Kiwi co-founder Mohit Bedi steps down

Kiwi co-founder Mohit Bedi has stepped down from his role as chief business officer (CBO). Announcing his decision on LinkedIn, Bedi said, he has "decided to step back from executive role to focus on personal and family priorities."

Bedi, who is transitioning into an advisory role, will remain at the firm until July. "I'll stay closely involved as an advisor and remain a proud long-term shareholder," he added.

Bedi, along with Siddharth Mehta and Anup Agrawal, founded Kiwi in 2022. The credit card-on-UPI fintech partnered with banks such as Axis Bank, Yes Bank among others to offer Rupay credit cards to users through its app. The company claims to have issued over 2 lakh cards till date.

Recently, the Bengaluru-based fintech appointed former Cred executive Sumeet Basrani as its new CBO. 

The startup had raised $24 million in a Series B funding round led by Vertex Ventures Southeast Asia and India in August last year. Existing backers Nexus Venture Partners, Stellaris Venture Partners, and Omidyar Network also participated in the funding round. In November 2023, the company had raised $13 million in its Series A funding round.