Pine Labs’ subsidiary Setu, on Monday, appointed Anand Raisinghani, former Vice president of SAP India, as its Chief Executive Officer succeeding Sahil Kini, Co-Founder of Setu, effective immediately.
The newly appointed Executive chief, most recently served as Vice President and Head for professional services BFSI at SAP India for over 6 years. Prior to this, he was with Atlanta-based Equifax for over two years. He has also worked with global giants IBM and Wipro heading various leadership roles.
Raisinghani brings about 25 years of experience to the firm. Additionally, the firm said, he will be working closely with Nikhil Kumar, Co-Founder, for the growth in the promising areas of open banking, account aggregation, API platforms, embedded finance, and data gateways.
Kini is Setu’s co-founder, having previously worked as a Principal and Venture Advisor at Aspada Investments. Setu’s goal is to simplify financial services by creating APIs that connect businesses and developers to India’s digital financial infrastructure. Kini’s vision has driven Setu’s objective to promote financial inclusion and innovation.
“Setu’sexecution ability to offer innovative solutions that keep pace with the rapid evolution within the industry bodes well for us,” said Anand Raisinghani, CEO of Setu.
Bengaluru-based Setu was founded in 2018. The form was acquired by Noida-based, financial service provider, Pine Labs in the year 2022.
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