Pine Labs acquires Fave in $45 mn cash and stock deal

Date:

Trending

Pine Labs, a digital payment and commerce solution provider to merchants has announced the acquisition of Malaysia-based Fintech startup Fave for $45 million in cash and stock deal.

- Advertisement -

“As a part of the acquisition, Pine Labs will bring Fave payment solution in India across a network of 500,000 merchants on its platform,” The Company in its statement said. 

“The acquisition will help both companies accelerate their growth in the Asia region and unlock massive consumer opportunities across retail, F&B, fashion, and FMCG markets. Joining forces with Pine Labs will reinforce Fave’s market position in Southeast Asia,” Pine Labs added.

Speaking on the acquisition, B. Amrish Rau, CEO of Pine Labs said, “Fave helps consumers apply their best rewards, coupons, gift cards, and cashback on all transactions in a seamless manner…We are excited to partner with them in this journey in South East Asia and India.”

Commenting on the deal, Joel Neoh, Co-founder & CEO of Fave, said, “India had the digital advantage with young demography, growing aspirational middle class with rising disposable income and increasing digital savviness.”

“We are confident that the APAC e-payments landscape will continue to achieve exponential growth in the coming decade. Together, we will be stronger, faster, and better,” he added.

THE SNAPSHOTS, IN YOUR INBOX

Get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

Support our independent journalism PayPal (Outside India) For PayU (For Indian Readers).

Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

More Latest Stories

Magazine

Politics
Latest

UltraverseNFT Launches Sandalwood backed NFT for Eco-Conscious Investors

UltraverseNFT is proud to introduce its groundbreaking Sandalwood NFTs, designed to redefine eco-conscious investments by merging digital assets with tangible ecological value. These unique...

Why BITBinvest.com is Expanding Worldwide & Capturing High-Profile Trader’s Attention?

BITBinvest.com has rapidly emerged as one of the leading companies in online trading, making it a source of attraction for traders around the world. The...

4 Key Ways Robotics May Change Warehouse Operations by 2030

The landscape of warehouse operations is poised for significant transformation by 2030 with the integration of robotics. According to Forbes, warehouse robotics revenues are...
00:02:30

VIDEO: Israeli PM Netanyahu Visits Lebanese Border, Promises Strong Action Against Hezbollah

During a recent visit to the Lebanese border, Israel's Prime Minister Benjamin Netanyahu highlighted the changing security landscape, emphasizing the ongoing military efforts against...
00:01:45

“I Will End the War in Gaza,” Kamala Harris to Arab American Community

In a final bid to win over Arab American voters in the closing stages of the presidential race, Democratic candidate Kamala Harris, during a...

Sport

- Advertisement -spot_img

Culture