Friday, 24 March, 2023

Pine Labs acquires API fintech startup Setu in $70-75 M deal

<p>Setu, an API fintech firm based in Bengaluru, has been acquired by merchant commerce platform Pine Labs in a deal estimated to be worth between $70 and $75 million. Cash and stock will be used in the transaction. The embedded financial market value is anticipated to hit $138 B by 2026 as APIs are escalating the competitive fintech scene. Setu will be a fantastic addition to the Pine Labs platform. Setu is the third acquisition announced by PineLabs this year.</p>