Noida-based fintech platform, Pine Labs, announced the appointment of their new CEO, Amrish Rau. Rau will be taking the reins from former head, Vicky Bindra
We welcome our new CEO @amrishrau who takes over from outgoing CEO @_vickybindra. Thank you Vicky and welcome Amrish! It continues to be a fun ride at Pine Labs. https://t.co/teFpL3BVKh pic.twitter.com/xCSshh3Cp1
— PineLabs (@PineLabs) March 3, 2020
Having previously worked as a Non-Executive Director with Billtrust, Bindra took on the role of CEO at Pine Labs in April of 2018. His successor too boasts impressive credentials in the Fintech industry. Having founded Citrus Pay in 2011, Rau went on to become CEO of PayU in 2016 when his startup was acquired by the company for $150Mn.
Pine Labs currently offers a variety of merchant platforms, including POS devices. With their recent acquisition of gifting-solution provider, Qwikcilver, the company is now also able to provide prepaid, stored value gift cards and gifting instruments. Pine labs further boasts machinery for the disbursal of working capital loans, as well as providing EMI solutions.
Executive Chairman, Lokvir Kapoor commented on the move, saying, “I am excited to welcome Amrish to the Pine Labs family. With Amrish’s ability to innovate, seek out options with channels and customers we believe Pine Labs can be a true global commerce platform.” The appointment has been commended by veteran investment firm, Sequoia India, and the move is expected to facilitate the success of the already growing company.