India, July 28 -- Former Peak XV executive's VC firm Kenro Capital is reportedly in talks to pick up a stake in Pine Labs as some of its early backers are looking for partial or full exit ahead of the company's public listing.

A Mint report, citing people close to the matter, said that Kenro is planning to invest $30-40 Mn in the fintech major.

"The investment firm has been speaking to some of Pine Labs' early backers to pick up a stake as the partners understand the company very well," one of the persons told Mint.

The company fits well within their thesis of investing in those that have a clear visibility for an IPO, the person added.

Pine Labs has declined to comment on Inc42's queries around the development.

In the run-up to its ...