Business platform Pine Labs acquires Setu

Setu is an Indian fintech API infrastructure startup that currently offers four different types of fintech APIs: bills, savings, credit and payments. Developers can access Setu’s sandbox to build applications, but must pass strict authentication before going online. In this way, all companies working with Setu can easily achieve plug-and-play financial services without having to spend a lot of effort and time on service integration with each financial service provider. Recently, business platform Pine Labs announced the acquisition of Setu. The deal is worth about $70 million.

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