Setu Strengthens Leadership Amid Pine Labs' IPO Preparations

Setu, the financial services platform owned by fintech giant Pine Labs, has reinforced its leadership ranks with an impressive array of senior appointments. These strategic hires come as the firm steps up efforts to expand its API-led financial infrastructure.

Leading the charge is Anand Raisinghani, who came on board as CEO in April, bringing with him extensive leadership experience from his tenure at SAP India. Joining him is Prashanth Nimmagada as the new Chief Technology Officer, previously the vice president of engineering at Razorpay and with a rich background in tech behemoths like LinkedIn and Microsoft.

Further enhancements to the team include Nikhil Ratanpal, taking on the role of director of product development, and Santosh Subramanian as Head of Finance. The leadership bolstering takes place against the backdrop of Pine Labs' upcoming IPO, aiming to raise significant capital through equity and share sales, as per the draft red herring prospectus submitted to Sebi.

(With inputs from agencies.)