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Will Singapore s Fave succeed in India following Pine Labs acquisition? ANI | Updated: Apr 19, 2021 12:16 IST By Lee Kah Whye Singapore, April 19 (ANI): Last week, Noida based Pine Labs announced that it is acquiring Fave, one of Southeast Asia s fastest growing fintech and e-commerce startups in a cash plus stock deal. Pine Labs said in a press release that it is paying over SGD 60 million (USD 45 million) to take over the Singapore-based company. Fave s investors will receive cash whereas the founders and key Fave employees will receive cash and shares of Pine Labs. Fave count among its backers Sequoia Capital India, China-based SIG Asia Investments, and Indonesian venture capital firm Venturra Capital.

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