Indian unicorn Pine Labs buys loss-making SE Asian discounts platform Fave in $45m deal

Indian unicorn Pine Labs buys loss-making SE Asian discounts platform Fave in $45m deal

Fave

Loss-making Southeast Asian loyalty and cashback platform Fave said on Tuesday that it has been acquired by the Indian merchant commerce platform, and unicorn, Pine Labs in a deal valued at over $45 million.

DealStreetAsia had reported in November last year that Fave is in the market scouting for prospective buyers. Fave co-founder and CEO Joel Neoh had rejected the claims at the time, saying his firm remains focused on growing its fintech platform and helping merchants adopt cashless payments and loyalty solutions.

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