Pine Labs' Setu names former SAP executive Anand Raisinghani new CEO

API infrastructure company Setu, a part of merchant-focused digital payments company Pine Labs, said on Monday that it appointed Anand Raisinghani as its new chief executive.

In his previous stint, Raisinghani was vice president and head of professional services, BFSI, telecom and media verticals at SAP India. He has more than two decades of experience and has also worked for technology companies like Equifax, IBM and Wipro.

Raisinghani will work closely with cofounder Nikhil Kumar, Setu said in a news release.


He joins the company at a time when consent-based structured data sharing via the account aggregation model is gaining prominence.

Setu works in the space of account aggregation, data gateway, identity verification, embedded finance, Open Network for Digital Commerce, WhatsApp Business, and Bharat Bill Payment Service.

Pine Labs is a merchant commerce omnichannel platform operating across India, Middle East, and Southeast Asia.