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Pine Labs Acquires Fintech Infrastructure Start-up Setu for $70-75M

Pine Labs Acquires Fintech Infrastructure Start-up Setu for $70-75M
  • June 24, 2022
  • Insights, Investment / Acquisition

Pine Labs, a merchant commerce platform, is acquiring Setu, a Bengaluru-based API fintech start-up. The transaction is valued at around $70-75 million. Pine Labs is backed by the likes of Sequoia Capital, PayPal, and Mastercard. According to Setu, there is a significant demand for its API services. Its APIs are utilized by start-ups, retail businesses, banks, insurance, and loan firms, among other industry verticals.

Pine Labs Acquires Fintech Infrastructure Start-up Setu for $70-75M

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