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Matrix Partners India promotes three principals to managing directors

Economic TimesEconomic Times · 2y ago
Matrix Partners India promotes three principals to managing directors
Medial

Matrix Partners India has promoted three of its principals, Aakash Kumar, Pranay Desai, and Sudipto Sannigrahi, to managing directors. Each of the new managing directors has a background in both operations and venture capital. Kumar focuses on investments in frontier technologies like artificial intelligence and blockchain. Desai leads business-to-business software-as-a-service investments, and Sannigrahi's focus areas include B2B and B2C marketplaces, agritech, supply chains, semiconductors, electric vehicles, and deeptech. Matrix Partners India recently closed its India fund at $550 million, the largest corpus it has raised for the country since starting operations there in 2006.

Exclusive: Pine Labs elevates CEO Amrish Rau to MD and Chairman

EntrackrEntrackr · 8m ago
Exclusive: Pine Labs elevates CEO Amrish Rau to MD and Chairman
Medial

Exclusive: Pine Labs elevates CEO Amrish Rau to MD and Chairman Pine Labs, a merchant commerce and payments platform, has promoted its Chief Executive Officer (CEO), Amrish Rau, from the role of Additional Director to Managing Director and Chairman. His elevation comes as the company prepares for its Initial Public Offering. Importantly, Rau continues to be the CEO of the Peak XV-backed firm. The board of Pine Labs has passed a resolution appointing Amrish Rau as the Managing Director and Chairman of the company for a five-year term, effective March 24, 2025, according to its filing with the Registrar of Companies (RoC). Rau joined Pine Labs as its CEO in March 2020. Prior to this, he was chief executive of Prosus-backed PayU India. Pine Labs recently received final approval from the National Company Law Tribunal (NCLT) to reverse flip its Singapore-based entity back to India. With this move, the fintech unicorn joined other Indian unicorn companies such as PhonePe, Groww, Zepto, and Dream11, which also relocated their headquarters back to India recently. The payments firm is eyeing to launch an IPO in the second half of 2025. As per media reports, the company is eyeing a $1 billion public issue and would comprise of issue of fresh equity shares and an offer for sale (OFS). Pine Labs is a merchant commerce platform that offers POS (point of sale) services which let merchants accept plastic cards and QR-based payments in their stores. It also offers Buy Now Pay Later (BNPL), invoice management, and gifting solutions. According to data intelligence startup TheKredible, Pine Labs has raised nearly $1.3 billion in funding to date from investors including Peak XV Partners, Temasek, PayPal, Mastercard, and others. The company currently holds a valuation of $5 billion. While Pine Labs is in the final stages of relocating its domicile from overseas back to India, a number of other startups—including Razorpay, Meesho, KreditBee, Udaan, Livspace, and several others—are also actively working on shifting their domiciles to India.

Infibeam Avenues rebrands as AvenuesAI, elevates Vishwas Patel to MD and CEO

EntrackrEntrackr · 17d ago
Infibeam Avenues rebrands as AvenuesAI, elevates Vishwas Patel to MD and CEO
Medial

Infibeam Avenues plans to change its name to AvenuesAI Ltd as part of a broader shift in its business strategy. The rebrand, approved in principle by the board, is subject to statutory and regulatory clearances. The company said the new identity reflects its transition from a payments and e-commerce infrastructure provider to an AI-driven digital payments and fintech business. Infibeam also planned a leadership change with the elevation of Vishwas Patel, currently Joint Managing Director, to the role of Managing Director and Chief Executive Officer. Vishal Mehta will continue as Chairman and Managing Director, focusing on long-term strategy and the company’s AI-led roadmap. As part of the same board meeting, the company appointed Neharika Vohra as an Additional Women Director (non-executive, independent) for a five-year term beginning December 11, 2025. Vohra has held leadership roles in entrepreneurship programmes at IIMA Ventures. Infibeam Avenues operates across India and multiple overseas markets, including the UAE, Saudi Arabia, Australia, and the US. It also works with major banks in Oman. The company said global expansion in payments offers stronger unit economics, and the rebrand supports this ambition. The business reported 84% revenue growth in H1 FY26 and a 26% rise in TPV year-on-year. CCAvenue will continue as the primary brand for its payment gateway and related merchant services. The platform works with more than 200 banks and financial institutions. Infibeam Avenues processed transactions worth Rs 8.67 trillion in FY25 and serves more than 10 million merchants and enterprise customers across its payments and platform businesses.

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