Noida-based service provider funds supplier Pine Labs on Tuesday stated that it has appointed fintech veteran B Amrish Rau as its new Chief Govt Officer.
Amrish will change Vicky Bindra, who, after a two-year profitable stint as CEO at Pine Labs, will probably be shifting again to San Francisco. In a press release, the corporate stated that Bindra will proceed to be an advisor to Pine Labs, supporting strategic initiatives.
The event comes only a month after Amrish give up Naspers-owned PayU, the place he was heading the monetary know-how investments and partnerships for the worldwide funds main.
Talking of the transition, Lokvir Kapoor, Govt Chairman, Pine Labs stated,
“I’m excited to welcome Amrish to the Pine Labs household. With Amrish’s potential to innovate, search out choices with channels, and prospects, we imagine Pine Labs generally is a true international commerce platform. I additionally need to thank Vicky, who set us firmly on an thrilling high-growth journey. Vicky challenged us to discover new enterprise areas and to construct organisational constructions and processes to assist these.”
Amrish joined Naspers-owned PayU after it acquired funds know-how firm Citrus Pay in 2016 for $130 million in an all-cash deal.
Publish the acquisition, he was named the CEO of PayU India. Underneath his stewardship, the corporate additionally launched its credit score product LazyPay. In January 2019, Amrish transitioned to a broader function, basing himself out of Singapore, whereas heading monetary know-how and investments for PayU.
He was additionally the MD for First Information Asia and constructed a market-leading funds JV with ICICI Financial institution. He has additionally labored with organisations together with NCR and Siemens Nixdorf.
Commenting on the appointment, Amrish Rau, stated,
“Pine Labs is an incredible platform which converges all the pieces from on a regular basis funds, to credit score, and reward playing cards. Deep area information and revolutionary merchandise designs have helped Pine Labs lead the market. Utilizing cloud applied sciences, Pine Labs needs to be all issues commerce for retailers, assist them save time and function companies effectively. I really feel excited to be a part of the journey,”
At current, Pine Labs processes funds price $30 billion per 12 months and serves about 140,000 retailers throughout about 450,000 community factors.
(Edited by Suman Singh)