Vicky Bindra has stepped down as CEO of Pine Labs, according to various media reports.
It is learnt that Lokvir Kapoor, co-founder and previously the chief executive at the company, has stepped in briefly to lead the charge. However, the company is looking for a fresh professional leader, the reports state.
Bindra joined Pine Labs as a non-executive director in 2016 after a two-year stint with Visa, heading its Global Product and Solutions Group in the US. He was made the CEO of Pine Labs in April 2018.
He has also worked with MasterCard, GE Capital, Bain & Company and Citi Group in various leadership roles. He served as Group President for MasterCard's Asia Pacific and Middle East & Africa region.
Bindra's departure comes right after the company closed a new investment from Matercard recently, which also made the company India’s first unicorn of the year 2020.
One of the leading merchant commerce platforms in Asia, Pine Labs today processes payments of $30 billion per year and serves some 140,000 merchants across about 450,000 network points.
An official confirmation from Pine Labs is awaited till the time of publication of this report.
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