Latest news with #PineLabs'
Economic Times
3 days ago
- 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?
Yahoo
27-06-2025
- Business
- Yahoo
Fintech firm Pine Labs seeks up to $6 billion valuation in India IPO, source says
By Vivek Kumar M (Reuters) -Indian fintech firm Pine Labs' [ initial public offering could be worth about $1 billion and the company is seeking a valuation of up to $6 billion, a source familiar with the matter said on Thursday. Pine Labs is looking to issue fresh shares worth 26 billion rupees ($304 million) while existing investors including Peak XV, PayPal and Mastercard will sell up to 147.8 million shares, draft papers filed with the market regulator showed. The company, which competes with Paytm and Walmart's PhonePe, is seeking a valuation of between $5 billion and $6 billion, according to the source, who did not want to be identified. The company was last valued at $5 billion when it raised funds in 2022. Pine Labs offers full-stack payment solutions such as point-of-sale machines to merchants for card payments. It will use the IPO proceeds to invest in overseas units, develop technology and pare down debt. India's IPO market has had a slow start to the year, but foreign investors are now returning to local stocks after a major exodus, attracted by big-ticket block trades, often a precursor to a recovery in IPOs. IPO proceeds from Indian issues are down 4.2% so far this year compared to a year earlier, while the number of issues have fallen 29%, data from LSEG up to mid-June showed. Still, the stock market is gathering steam as concerns around global trade uncertainties ease. The benchmark Nifty 50 is up 8% this year, but remains 3% below its record highs hit last September. Six IPOs are open for bids this week, including HDB Financial's $1.5 billion offering, the biggest ever by an Indian non-bank lender. Pine Labs posted a revenue of 13.41 billion rupees in fiscal year 2024, up from 12.91 billion rupees in 2023, while its losses widened to 1.87 billion rupees from 562 million over the same period, according to its prospectus. Morgan Stanley, Citi and Jefferies are among the bookrunners for the offering. ($1 = 85.6150 Indian rupees) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
27-05-2025
- Business
- Business Standard
FM Sitharaman visits Pine Labs Noida office, lauds India's fintech sector
During her visit to Pine Labs in Noida, FM Sitharaman praised India's fintech sector for delivering secure and inclusive digital financial services to MSMEs and merchants New Delhi Finance Minister Nirmala Sitharaman on Tuesday highlighted how fintech innovations are delivering seamless, secure, and inclusive financial services to merchants and medium, small and micro enterprises (MSMEs). During her visit to the Noida office of Pine Labs, a leading fintech firm, FM Sitharaman lauded India's fintech companies for their role in strengthening the country's Digital Public Infrastructure (DPI). At Pine Labs office, she witnessed demonstrations of innovative solutions being developed around prepaid instruments, the Account Aggregator (AA) framework, and digital services for the Public Distribution System (PDS) and other government schemes. The finance minister also interacted with Pine Labs employees and customers during her visit. Among them was Kuldeep Chauhan, a mobile retailer from Noida and a customer of Pine Labs. Chauhan shared with FM Sitharaman how his business has experienced significant growth thanks to the widespread adoption of digital payments. Pine Labs is a fintech company, known for its innovative solutions in the payment and merchant commerce space. The company offers a range of products, including point-of-sale (POS) terminals, prepaid instruments, and digital payment solutions. Pine Labs' customers are merchants, retailers, and consumers.
Yahoo
11-03-2025
- Business
- Yahoo
Pine Labs partners with Visa to provide Visa Instalment Solutions to merchants across key markets in Southeast Asia
SINGAPORE, March 11, 2025 /PRNewswire/ -- Pine Labs, a fintech platform, has announced a partnership with Visa (NYSE: V) to introduce Visa Instalment Solutions (VIS) on Pine Labs' multi-issuer payment solution across key markets in Southeast Asia. Previously, merchants used to sign up with multiple issuers and deploy multiple payment terminals to process instalment transactions at the point of sale. The collaboration between Pine Labs and Visa will enable merchants more flexibility and affordability to offer seamless instalment payment options for domestic and cross-border transactions. Merchants in Southeast Asia including Courts, Hooga and Chicco will be able to offer this integrated instalment solution. Visa Instalment Solutions will be first introduced on Pine Labs' network of merchants in Singapore, Malaysia and the Philippines, and subsequently in Thailand, Indonesia and other Southeast Asia markets. Dheeraj Chowdhry, Chief Business Officer - SEA, Pine Labs, said, "This collaboration plays on the strength of Visa's vast global network and Pine Labs' tech capabilities to provide flexible and intuitive instalment payment options for consumers. Facilitating consumer finance on already approved credit lines using their existing credit cards is expected to be a win-win for cardholders and merchants. It empowers merchants and direct brands to boost ticket and basket size by taking the transaction up the affordability curve. This is further amplified by enablement of cross-border instalments during purchase – a feature that will be a 'market-first' across the instalments landscape." Commenting on the partnership, Kim Hak J, Head of Products & Solution for Regional Southeast Asia, Visa, said, "According to Visa's Green Shoots Radar Study[1], the usage of instalment solutions in Southeast Asia is significantly higher than the Asia-Pacific average. The same study showed that over the past two years, we have observed a notable increase in instalment payments usage, particularly in Malaysia, Thailand, and the Philippines. This trend underscores the growing preference for flexible payment options among consumers in these markets, and we are excited to support this demand through our partnership with Pine Labs." As a participant in the program, Harry Higashiura, Chief Executive Officer, Courts Malaysia and Singapore, said, "As the leading omni-channel retailer in electrical, IT and furniture products across Singapore, Malaysia and Indonesia, we see demand for instalments when it comes to customer purchases. We are thrilled to participate in this initiative by Visa and Pine Labs to enable our customers with more options to pay for their purchases across our stores in the region." To know more, please visit [1] Visa Green Shoots Radar study – Wave 13 was conducted on January 2024 in 14 Asia Pacific Markets on over 8,000 consumers aged 18-65 years old to uncover insights on consumer sentiments, financial products ownership, payment behaviours and other topics. View original content: SOURCE Pine Labs Sign in to access your portfolio
