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Entrepreneur
08-08-2025
- Business
- Entrepreneur
Pine Labs Appoints Sameer Kamath as CFO Ahead of Planned IPO
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Pine Labs has announced the appointment of Sameer Kamath as its new Chief Financial Officer, marking a strategic move as the fintech firm gears up for a public listing. Kamath will lead the company's global finance strategy, oversee accounting functions, and manage investor relations. Kamath brings extensive experience in the financial sector. Prior to this role, he served as Group CFO at Avendus Capital and held leadership positions at Motilal Oswal. His appointment comes at a crucial juncture as Pine Labs strengthens its leadership team in preparation for its initial public offering. "I am thrilled to be joining a technology-first organisation like Pine Labs at such a pivotal moment in their journey," Kamath said in a statement on Thursday. "Looking forward to working with Amrish and the rest of the leadership team to build on the momentum and strengthen the financial foundation of the company." Chief Executive Officer B Amrish Rau expressed confidence in Kamath's leadership. He noted that Kamath's experience in building high-performing teams and improving financial performance will support Pine Labs in its continued innovation within the fintech sector. Kamath replaces Marc Kay Mathenz, the outgoing CFO, whose tenure is expected to end in August 2025. Mathenz was granted over 840,000 stock options in the first half of 2025. The leadership change follows Pine Labs' filing of draft papers with the Securities and Exchange Board of India to raise INR 2,600 crore through a fresh issue of shares. The IPO will also include an offer for sale of nearly 148 million shares by existing stakeholders such as Peak XV Partners, PayPal, and Mastercard. The proceeds from the public offering will be used for international expansion, technology advancement, and reducing existing debt. Pine Labs operates in several markets, including India, Southeast Asia, the Middle East, Australia, and the United States.
News18
07-08-2025
- Business
- News18
Pine Labs appoints Sameer Kamath as CFO ahead of IPO
Last Updated: New Delhi, Aug 7 (PTI) Fintech platform Pine Labs, which is preparing to launch its initial public offering (IPO), on Thursday announced the appointment of Sameer Kamath as its Chief Financial Officer (CFO). Kamath most recently served as Group CFO at Avendus Capital, where he led financial management, strategy, risk, and compliance. Prior to that, he held the role of Director and Group Chief Financial Advisor at Motilal Oswal. In his new role, Kamath will be responsible for the global finance strategy, accounting, investor relations, and providing financial leadership across the Pine Labs group, the company said in a statement. 'Sameer's proven track record of building high-performing teams and driving financial performance will be invaluable to Pine Labs as we continue to innovate and introduce cutting-edge fintech products in the market," B Amrish Rau, CEO of Pine Labs, said. The proposed IPO is a combination of fresh issuance of equity shares worth Rs 2,600 crore and an offer for sale (OFS) of more than 14.78 crore shares by existing investors, according to the draft red herring prospectus (DRHP). PTI SP SHW view comments First Published: August 07, 2025, 20:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Economic Times
07-08-2025
- Business
- Economic Times
Pine Labs appoints Avendus' Sameer Kamath as CFO ahead of IPO
ETtech Sameer Kamath, CFO, Pine Labs Merchant payments company Pine Labs, which is gearing up for an initial public offering (IPO), has appointed Sameer Kamath as its new chief financial officer (CFO), it said in a statement on was previously group CFO at Mumbai-based investment bank Avendus Capital. ET was the first to report the development. Kamath succeeds Marc Mathenz, the company's Singapore-based CFO, who stepped down in June, shortly before Pine Labs filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi). In his new role, Kamath will lead global finance strategy, accounting, investor relations, and financial leadership across the Pine Labs group, the Gurugram-based company said in a has over two decades of experience in financial services and has also served as director and group chief financial advisor at Motilal Oswal. He is a chartered accountant and holds a postgraduate degree in business administration from NMIMS, on the appointment, Amrish Rau, chief executive officer of Pine Labs, said, 'Sameer's proven track record of building high-performing teams and driving financial performance will be invaluable to Pine Labs as we continue to innovate and introduce cutting-edge fintech products in the market.'Pine Labs, backed by Peak XV Partners, Mastercard, PayPal and Actis, filed its DRHP on June 27, seeking to raise Rs 2,600 crore through a fresh issue of shares and an offer-for-sale (OFS) of up to 147.8 million shares. Also Read: Decoding Pine Labs' DRHP: Fintech aims to raise Rs 2,600 crore via an IPO The company is targeting a valuation of $4.5–5 billion through the public issue. It operates in India as well as in international markets including Malaysia, UAE, Singapore, Australia, the US, and of the IPO, the company has also been strengthening its top deck. Shalini Saxena is set to return as its general counsel. She had previously served in the same role at Pine Labs between 2019 and 2022, before moving to crypto exchange CoinDCX. Bar and Bench first reported Saxena's return. Pine Labs' core leadership includes Rau as CEO, Kush Mehra as chief business officer, Sumit Chopra as chief operating officer, and Navin Chandani as chief business officer for its issuing business. 'I am thrilled to be joining a technology-first organisation like Pine Labs at such a pivotal moment in their journey. Looking forward to working with Amrish and the rest of the leadership team to build on the momentum and strengthen the financial foundation of the company,' Kamath said in a statement. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. As RBI retains GDP forecast, 4 factors that will test the strength of Indian economy India's last cement IPO did not work. Can JSW Cement break that curse? Is Shadowfax closing in on its closest rival? Can Coforge's ambition to lead the IT Industry become a reality? Berlin to Bharuch: The Borosil journey after the China hit in Europe Stock Radar: Syngene International showing signs of momentum after falling 26% from highs; what should investors do? Two Trades for Today: A life insurance major for a 4.85% upmove, a mid-cap diesel engine maker for almost 7% rise Multibagger or IBC - Part 18: This auto ancillary started with wheels. It now also powers wind & war Auto stocks: Yes, headwinds in the short term, but will structural change become tailwinds and prove analysts wrong?
Time of India
07-08-2025
- Business
- Time of India
Pine Labs appoints Avendus' Sameer Kamath as CFO ahead of IPO
Merchant payments company Pine Labs, which is gearing up for an initial public offering (IPO), has appointed Sameer Kamath as its new chief financial officer (CFO), it said in a statement on was previously group CFO at Mumbai-based investment bank Avendus was the first to report the development Kamath succeeds Marc Mathenz, the company's Singapore-based CFO, who stepped down in June, shortly before Pine Labs filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi).In his new role, Kamath will lead global finance strategy, accounting, investor relations, and financial leadership across the Pine Labs group, the Gurugram-based company said in a has over two decades of experience in financial services and has also served as director and group chief financial advisor at Motilal Oswal. He is a chartered accountant and holds a postgraduate degree in business administration from NMIMS, on the appointment, Amrish Rau, chief executive officer of Pine Labs, said, 'Sameer's proven track record of building high-performing teams and driving financial performance will be invaluable to Pine Labs as we continue to innovate and introduce cutting-edge fintech products in the market.'Pine Labs, backed by Peak XV Partners, Mastercard, PayPal and Actis, filed its DRHP on June 27, seeking to raise Rs 2,600 crore through a fresh issue of shares and an offer-for-sale (OFS) of up to 147.8 million company is targeting a valuation of $4.5–5 billion through the public issue. It operates in India as well as in international markets including Malaysia, UAE, Singapore, Australia, the US, and of the IPO, the company has also been strengthening its top deck. Shalini Saxena is set to return as its general counsel. She had previously served in the same role at Pine Labs between 2019 and 2022, before moving to crypto exchange CoinDCX. Bar and Bench first reported Saxena's Labs' core leadership includes Rau as CEO , Kush Mehra as chief business officer, Sumit Chopra as chief operating officer, and Navin Chandani as chief business officer for its issuing business.'I am thrilled to be joining a technology-first organisation like Pine Labs at such a pivotal moment in their journey. Looking forward to working with Amrish and the rest of the leadership team to build on the momentum and strengthen the financial foundation of the company,' Kamath said in a statement.
Mint
28-07-2025
- Business
- Mint
Kenro Capital eyes up to $40 mn stake in Pine Labs as early backers seek exits
Mumbai: Kenro Capital, which specializies in purchasing stakes from existing investors, is evaluating a $30-40 million investment in Pine Labs as the fintech giant's early backers look to exit in part or in full ahead of its listing later this year, two people familiar with the matter. 'The investment firm has been speaking to some of Pine Labs' early backers to pick up a stake as the partners understand the company very well," one of the two people cited above said, requesting anonymity. The company fits well within their thesis of investing in those that have a clear visibility for an IPO, the person said. Pine Labs was last valued at $5.05 billion when it raised about $50 million from Vitruvian Partners in 2022. It competes with Paytm and Walmart's PhonePe. According to the second person, who also spoke on the condition of anonymity, the deal may likely have a slight discount in valuation, as it usually happens in a secondary transaction. Shareholders in a secondary transaction sell their stakes to other investors, and no new capital is injected into the company. Pine Labs declined to comment, while Kenro did not immediately respond to Mint's request for a comment. The fintech filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) last month for its initial public offering. The filings showed that the company is set to issue a combination of fresh equity worth ₹2,600 crore and an offer-for-sale (OFS) of more than 14.78 crore shares. Under the OFS, several prominent investors including Peak XV (largest institutional shareholder), Actis Pine Labs, Macritchie Investments, PayPal, Mastercard, Invesco, Madison India, among others, are expected to sell some stake. Even co-founder Lokvir Kapoor is selling shares in the OFS. The proceeds from the fresh shares are aimed at funding the repayment or prepayment of the company's borrowings up to ₹870 crore, and Pine Labs is also planning to invest ₹60 crore in its overseas subsidiaries and ₹760 crore in IT assets like cloud infrastructure and other technological initiatives. Pine Labs appointed Morgan Stanley, Citi Global, Axis Capital, JPMorgan India and Jefferies to help with the issue Founded in 1998 by Kapoor, Rajul Garg, and Tarun Upadhyay, Pine Labs offers merchants payment solutions, including point-of-sale machines for card payments. In 2020, the company appointed Amrish Rau as its chief executive officer. Kenro Capital, led by former Peak XV partners Piyush Gupta and Norbert Fernandes, has outlined plans to target minority stakes in financial services and consumer sectors, focusing on tech-led companies. In his previous stint, Gupta was overseeing several companies, including Pine Labs, Healthkart, CarDekho and Zomato. He is joined by Fernandes, a private equity professional who has worked with Temasek, IvyCap Ventures and TR Capital. Fernandes has dealt with late-stage companies such as Lenskart, SMT,Sapphire Foods and Bigbasket in his past stints. Kenro Capital invested $40 million ( ₹340 crore) in Bengaluru-based K12 Techno Services, Mint reported in December. Pine Labs earned a net profit of ₹26.24 crore in the nine months ended December, according to its DRHP. The company incurred a net loss of ₹151.63 crore in the corresponding period of the previous year. Revenue from its operations rose to ₹1,273.88 crore during the period, up from ₹1,006.56 crore a year earlier.
