In a LinkedIn post on Saturday, Bedi said he would shift focus to “personal and family” commitments while remaining closely associated with the company as an advisor and long-term shareholder.
“Kiwi is in great shape, strong momentum, strong team, strong vision,” he wrote, adding that day-to-day operations will now be led by other cofounders Anup Agrawal and Siddharth Mehta.
Bedi added that he will now focus on advisory work, funding and angel investing, and has already backed a few early-stage startups.
ETtechPrior to Kiwi, Bedi spent over seven years at Axis Bank, where he rose to senior vice president and business head roles across consumer card products and merchant acquiring. His stint covered both credit and debit card portfolios.
He later moved to PayU as senior vice president in 2022, where he worked on strategic initiatives and Bharat Bill Payment System (BBPS) operations for India.
The fintech startup founded in 2022 last raised $24 million in a funding round led by Singapore-based Vertex Ventures in August last year.
Existing investors Nexus Venture Partners, Omidyar Network and Stellaris Venture Partners also participated in the round.
Kiwi currently issues RuPay credit cards in partnership with Yes Bank and AU Small Finance Bank, enabling consumers to make payments via UPI, India’s most widely used retail payment mode.
Alongside this, the company offers UPI credit lines in partnership with banks. This feature allows users to access pre-approved credit limits directly through their UPI-enabled savings accounts, combining UPI’s ease with short-term credit’s flexibility, as ET reported earlier.
Since its launch in 2023, the company said it has issued 200,000 RuPay credit cards through its platform and currently processes over 5 million merchant transactions every month across 600 cities in India.