Pine Labs, a payments company preparing to go public, is getting a new Chief Financial Officer (CFO). Sameer Kamath, who is currently the Group CFO at Avendus Capital, will soon join Pine Labs.
Kamath has over 20 years of experience in the financial industry. Before working at Avendus, he was also the Group CFO at Motilal Oswal.
Sameer Kamath is joining Pine Labs as CFO after Marc Mathenz, the previous CFO based in Singapore, resigned.
Mathenz stepped down in June, just before Pine Labs submitted its draft IPO papers to SEBI, India’s stock market regulator.
Along with Sameer Kamath becoming the new CFO, Shalini Saxena is also rejoining Pine Labs as General Counsel.
She held the same role from 2019 to 2022 before moving to CoinDCX as the head of legal. Her return is an important legal leadership move for the Gurugram-based company.
Pine Labs’ top team includes Kush Mehra (Chief Business Officer), Sumit Chopra (COO), and Navin Chandani (Chief Business Officer – Issuing Business). The company is led by CEO Amrish Rau, who earlier worked at PayU.
On June 27, Pine Labs filed its Draft Red Herring Prospectus (DRHP) as it plans to go public. The company aims to raise ₹2,600 crore through a mix of new shares and an offer-for-sale of up to 147.8 million shares. Pine Labs is looking for a valuation between $4.5 and $5 billion. Its major investors include Peak XV Partners, Mastercard, PayPal, and Actis.
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