Acquisition
Pine Labs acquires API startup Setu
By Startup Enthusiast ·
- Date
- Company
- Pine Labs
- What it does
- Pine Labs buys Setu
- Kind
- Acquisition
- Amount
- $70 million
What they do
Pine Labs announced in June 2022 that it bought Setu, a Bengaluru startup that builds API (software connection) infrastructure for payments
What happened
The deal was worth around $70 million according to sources, and Setu's founders stay on to lead it
Why it matters
Setu keeps its brand and its team of roughly 90 to 100 people
The details
- Pine Labs bought Setu, a Bengaluru API infrastructure startup, in June 2022.
- Setu was founded by Sahil Kini and Nikhil Kumar.
- The founders kept leading Setu under its own brand.
The deal
- Type
- Acquisition
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