In a strategic leadership shakeup ahead of its much-anticipated IPO, merchant payments major Pine Labs has onboarded seasoned finance professional Sameer Kamath as its new Chief Financial Officer (CFO).
Kamath, who is currently the Group CFO at Mumbai-based investment bank Avendus Capital, brings with him over two decades of financial services experience. His previous stints include a significant leadership role at Motilal Oswal, where he served as Group CFO. Kamath’s appointment comes at a crucial juncture for the Gurugram-headquartered firm, as it gears up for its public market debut.
He steps into the role following the exit of Marc Mathenz in June — a move that occurred just before Pine Labs filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The timing of this leadership change suggests Pine Labs is reinforcing its core team to bolster investor confidence ahead of listing.
In another notable homecoming, Shalini Saxena is rejoining Pine Labs as its General Counsel. Saxena previously held the role between 2019 and 2022, after which she moved to leading crypto exchange CoinDCX as its legal head. Her return marks a significant boost to the legal and compliance arm of Pine Labs at a time when IPO-readiness requires meticulous regulatory and legal oversight.
Currently, Pine Labs’ leadership team also includes Kush Mehra (Chief Business Officer), Sumit Chopra (Chief Operating Officer), and Navin Chandani (Chief Business Officer – Issuing Business). At the helm is CEO Amrish Rau, a former PayU executive known for scaling fintech ventures.
The company officially filed its DRHP on June 27, aiming to raise ₹2,600 crore via a fresh issue of shares, alongside an Offer for Sale (OFS) of up to 147.8 million shares. Pine Labs is reportedly targeting a valuation between $4.5 billion and $5 billion.
The company counts Peak XV Partners (formerly Sequoia India), Mastercard, PayPal, and Actis among its marquee investors.
With fresh leadership energy and a sharpened legal-financial framework, Pine Labs appears well-positioned for one of the most closely watched fintech IPOs in recent memory.
