Pine Labs appoints Amrish Rau as CEO

New Delhi, Mar 3 () Merchant commerce platform Pine Labs on Tuesday said it has appointed Amrish Rau as its chief executive officer.

Rau brings fintech, entrepreneurial and corporate experience to his new role as the chief executive officer (CEO) and replaces Vicky Bindra, a statement said.

Bindra, after a two-year stint as the CEO, is moving back to San Francisco and will continue to be an advisor to the company supporting strategic initiatives, it added.

Rau's startup - Citrus Pay, which was funded by Sequoia India, was acquired by PayU in 2016 in one of the largest fintech acquisitions. He has also served as the managing director for First Data Asia, NCR and Siemens Nixdorf.

"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," Pine Labs Executive Chairman Lokvir Kapoor said.

Pine Labs has evolved into offering payment acceptance technology, stored value products, in-store consumer credit and other merchant solutions in India, Southeast Asia and the Middle East. It processes payments of USD 30 billion per year and serves about 1.4 lakh merchants across about 4.5 lakh network points.

Its key investors are Sequoia India, Actis Capital, Temasek, PayPal, Sofina and Mastercard. SR RUJ