Pine Labs' Setu hires senior executives to bolster growth
MUMBAI: Setu, a subsidiary of Pine Labs has strengthened its leadership team with a series of senior appointments over the past two months as it continues to scale its API-led financial services platform.
The company has appointed Prashanth Nimmagada as chief technology officer. Prior to joining Pine Labs, he was the vice president of engineering at Razorpay.
Earlier in January, Pine Labs appointed Vijeth Pandit as chief product officer. Pandit spent nearly three years at Razorpay as senior director of product management.
Ramkumar Thirumurthi, who led Razorpay's neobanking vertical and co-founded Actyv.ai, has joined as chief revenue officer.
In June, Setu appointed Nikhil Ratanpal, an ISB alumnus and former product lead for PhonePe's payment gateway business, as director of product development.
Santosh Subramanian, with leadership experience at Yes Bank and PayU-owned Wibmo, has come on board as Head of Finance.
These appointments follow the recent joining of Anand Raisinghani as chief executive officer. Raisinghani, who previously held leadership roles at SAP India.
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He took charge earlier this year, succeeding Setu's cofounder Sahil Kini, who is now serving as CEO of the Reserve Bank Innovation Hub.
Setu provides API infrastructure for bill payments, UPI integration, KYC, and digital signatures, and operates as an RBI-licensed NBFC Account Aggregator (AA). The strengthened leadership team will drive Pine Labs' Setu to drive growth strategy as it continues to support leading banks, fintechs, and enterprises in India to help them build scalable digital financial solutions for India's evolving API-driven infrastructure ecosystem.
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