IPO-Bound Pine Labs to Appoints Sameer Kamath from Avendus as CFO

IPO-bound payments firm Pine Labs is set to bring on Sameer Kamath as its new chief financial officer. Kamath, currently the Group CFO at Avendus Capital, will soon join the company.

With over 20 years in financial services, Kamath has previously served as Group CFO at Motilal Oswal before moving to Avendus.

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Kamath’s appointment follows the resignation of Marc Mathenz, Pine Labs’ Singapore-based CFO, who stepped down in June—just before the company filed its draft IPO papers with SEBI, India’s stock market regulator.

Along with Sameer Kamath’s appointment as CFO, Shalini Saxena is set to rejoin Pine Labs as General Counsel. Saxena previously held the role from 2019 to 2022 before moving to coindcx as legal head. Her return marks a key legal leadership move for the Gurugram-based firm.

Pine Labs’ leadership team also includes Kush Mehra (Chief Business Officer), Sumit Chopra (COO), and Navin Chandani (Chief Business Officer – Issuing Business), with Amrish Rau, formerly of PayU, serving as CEO.

Pine Labs filed its Draft Red Herring Prospectus (DRHP) on June 27, aiming to raise ₹2,600 crore through a fresh issue and an offer-for-sale (OFS) of up to 147.8 million shares. The company is targeting a valuation between $4.5 and $5 billion. Key shareholders include Peak XV Partners, Mastercard, PayPal, and Actis.

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