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India Loan Platform Pine Labs Buys Fintech Setu for $75m – Mint

Setu, which enables users to securely share their financial data with banks and other financial institutions, is Pine Labs’ third acquisition this year

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Indian merchant payments and lending platform Pine Labs has acquired fintech infrastructure provider Setu for about $75  million, Mint reported.
Last valued at $5 billion, Pine Labs has been looking to diversify beyond merchant payments. Photo: Reuters.

 

Indian merchant payments and lending platform Pine Labs has acquired fintech infrastructure provider Setu for about $75  million, Mint reported.

Setu, which enables users to securely share data with financial institutions, is Pine Labs’ third acquisition this year after scooping up Mumbai-based payments startup Qfix in February and buying a majority stake in payments firm Mosambee in April, the report added.

Read the full report: Mint.

 

 

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

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