July 26, 2025

In recent months, Setu, a subsidiary of the fintech giant Pine Labs, has made significant strides to strengthen its leadership team by hiring several high-profile executives. This move aligns with Setu's strategy to enhance its API-led financial services platform, which accommodates the growing needs of banks, fintechs, and enterprises in India. The first major appointment was Prashanth Nimmagada as Chief Technology Officer. Nimmagada brings a wealth of experience to Setu, coming from Razorpay where he served as Vice President of Engineering. His role at Setu will be pivotal in steering the technology strategy and product development, ensuring that Setu stays at the forefront of innovation in the financial services sector. In January, Vijeth Pandit joined Setu as Chief Product Officer. With nearly three years of experience at Razorpay as Senior Director of Product Management, Pandit is expected to enhance Setu’s product offerings and ensure they meet the needs of their clients effectively. This appointment illustrates Setu's commitment to attracting top talent with proven track records in the competitive fintech landscape. The company also welcomed Ramkumar Thirumurthi as Chief Revenue Officer. Thirumurthi has a solid background in neobanking and previously co-founded Actyv.ai. His expertise will be crucial in driving Setu's revenue growth and expanding its market reach, especially as digital financial solutions become increasingly vital to businesses in India. Moreover, Nikhil Ratanpal, a graduate of the Indian School of Business (ISB) and former Product Lead at PhonePe’s payment gateway business, was appointed as Director of Product Development in June. Ratanpal’s knowledge and experience in product development are anticipated to play an essential role in Setu’s strategy to provide cutting-edge technological solutions to its clients. Another significant addition to the leadership team is Santosh Subramanian, who has extensive experience from his time at Yes Bank and PayU-owned Wibmo, now serving as Head of Finance. Subramanian will oversee Setu’s financial strategies and management, ensuring robust fiscal health as the company scales its operations. These appointments coincided with the arrival of Anand Raisinghani as Chief Executive Officer earlier this year. He succeeded Sahil Kini, a co-founder of Setu, who has taken on a new role as CEO of the Reserve Bank Innovation Hub. Under Raisinghani's leadership, Setu is set to navigate through its growth phase with a strengthened vision and mission. Setu is known for its comprehensive API infrastructure that includes solutions for bill payments, UPI integration, KYC processes, and digital signatures. The company operates as an RBI-licensed Non-Banking Financial Company (NBFC) and provides essential services that help businesses streamline their financial operations. The restructured leadership team represents a significant commitment by Pine Labs to invest in Setu’s future. With an evolving API-driven financial ecosystem in India, having a robust and experienced leadership team is crucial for developing scalable digital financial solutions. Overall, these strategic appointments reflect Setu’s dedication to fostering innovation and resilience in the rapidly evolving financial technology sector, positioning the company for success in a competitive market. As Setu continues to support banks, fintechs, and enterprises, it is set to become a key player in transforming financial services in India’s burgeoning digital economy.

Read More at Timesofindia →

Tags: Pine labs, Setu, Executive appointments, Financial services, Api,