New Delhi, April 13 -- Merchant commerce platform Pine Labs on Tuesday said it has acquired Fave, Southeast Asia's fast-growing consumer fintech platform, for over $45 million.
Pine Labs said that with this acquisition, the consumers in India will be able to use Fave app later this year to save across 500,000 merchant network points powered by Pine Labs across 3,700 cities.
""Fave helps consumers apply their best rewards, coupons, gift cards and cashbacks on all transactions in a seamless manner. We are excited to partner with them in this journey in South East Asia and India," said B. Amrish Rau, CEO, Pine Labs.
Fave founders will lead the overall consumer platform across Asia and hire over 100 new employees.
Pine Labs said that Fave's...