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Singapore-based Pine Labs buys Bengaluru-based Qwikcilver for $110 million

Vicky Bindra New Delhi– Singapore-based merchant platform firm Pine Labs on Tuesday announced it has acquired Bengaluru-based gift card solutions provider Qwikcilver for $110 million. The combined gift solutions business will be the largest in India with a customer base of over 250 brands and retailers and 1,500 enterprise customers, the company said in a statement. “According to market estimates, gift, as a category, is growing at a high double-digit rate annually. Qwikcilver’s technology and market expertise will help us scale up this business,” said Vicky Bindra, Chief Executive Officer, Pine Labs. Pine Labs processes annualised payments of $20 […]

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