MobiKwik’s Consumer Payments COO Mohit Narain resigns; says, 'I have been advised to take...'

Digital payments company MobiKwik said that Mohit Narain, its chief operating officer for consumer payments, has resigned from his position owing to health reasons. 

Advertisment

His resignation is effective from the close of business hours on October 24, 2025, the company told stock exchanges.

Narain, who joined MobiKwik in 2018 as a product and growth coach, was elevated to the COO role in early 2024 to oversee operations across UPI, wallet, QR, and devices. Before joining MobiKwik, he spent over 14 years at ACL Mobiles and later worked as an independent consultant to several startups.

In his resignation letter addressed to CEO Bipin Preet Singh, Narain said he had been advised to take full rest and focus on recovery, adding that it was a “very difficult decision” but in the best interest of both himself and the company.

“This has been a very difficult decision for me, but due to ongoing health issues, I have been advised to take full rest and focus on my recovery. Thus, after careful consideration, I believe it is in my best interest as well of the company, for me to step down from my role at this time. I request that I be relieved from the close of business hours on October 24, 2025,” he wrote in his resignation letter.

This marks the second senior-level exit at the fintech firm this year. In January, Chandan Joshi, co-founder and CEO of the payments division, stepped down. Earlier in 2025, the firm promoted Saurabh Dwivedi to Chief Technology Officer and Dhruv Wadhera to Senior Vice President for offline payments.

MobiKwik’s financial performance has come under pressure in recent quarters. In the June 2025 quarter, its net loss widened more than sixfold to Rs 42 crore from Rs 6.6 crore a year earlier, while operating revenue fell 21% year-on-year to Rs 271 crore. The slowdown came mainly from its financial-services segment, where revenue declined 65% YoY, from Rs 171 crore in Q1 FY25 to Rs 58 crore in Q1 FY26.