India: Pine Labs appoints Phanimohan Kalagara as its new CTO

Visual from Pine Labs website

Merchant payments fintech Pine Labs has roped in former Flipkart executive Phanimohan Kalagara as its new chief technology officer (CTO), the company said on Wednesday.

Kalagara will replace Sanjeev Kumar, who was the former CTO of the company. Kumar is expected to now head the research and development (R&D) function at Pine Labs.

In his previous stint with Flipkart, Kalagara served as senior vice president of product and engineering functions. Before that, he spent more than 12 years with global fintech company PayPal where he was leading the product and engineering function, and spent nearly eight years in the US working on several key assignments for the company.

“We have made several new appointments in the past one year to bolster our technology capabilities. I am delighted to welcome Phanimohan as the new CTO. Phani comes with a wealth of experience in product and engineering and is the right man to lead our technology team during this exciting phase of growth for the company,” said B. Amrish Rau, chief executive officer, Pine Labs.

“I would also like to acknowledge the role of his predecessor Sanjeev Kumar who will now move into a new role within the company and head the R&D vertical,” added Rau.

The news comes at a time when Pine Labs is looking to file paperwork for its $6 billion initial public offering (IPO), as it plans to list on the US exchanges next year.

The company has already raised more than $1.08 billion in equity funding in 2021 alone.

“It is not often that we get an opportunity to play a key role in a company that gets to shift the industry landscape. I have been blessed a couple of times earlier in my career to make meaningful difference in such companies. With Pine Labs, I see a massive opportunity to make substantial difference to the future of merchant commerce in Asia. Looking forward to being part of this team that is set to shift the fintech landscape in Asia,” said Phanimohan Kalagara, CTO, Pine Labs.

Pine Labs is scaling its popular ‘Buy Now Pay Later’ proposition to international markets, offers gift card solutions through its subsidiary Qwikcilver and a direct-to-consumer offering in Asia through the acquisition of consumer fintech platform called Fave.

Apart from its home market of India, Pine Labs at present continues to have a presence in emerging Asian economies such as Singapore, Malaysia, Thailand, and the Philippines.

This article was first published on livemint.com

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.