Pine Labs-owned Setu names former Razorpay executive Vijeth Pandit chief product officer

Vijeth Pandit

Setu, the fintech infrastructure startup owned by Pine Labs, has announced the appointment of Vijeth Pandit as its chief product officer.

Pandit, formerly the senior director of product management at Razorpay, played a pivotal role in scaling its core payments portfolio.

"His sharp focus on building with ambition and purpose aligns with Setu's mission of driving impactful innovations in the financial ecosystem...This is an important moment for us at Setu, and we couldn’t is growing at an impressive 100% year-on-year, is powering some of the largest banks and fintechs in India by simplifying financial infrastructure.be more excited to take bigger swings this year," Setu's cofounder Nikhil Kumar wrote on X.

Pandit's appointment comes 10 months after the firm appointed former SAP India executive Raisinghani as its CEO.

In in post on X, Kumar said Setu is growing at an impressive 100 percent year on year, is powering some of the largest banks and fintechs in India by simplifying financial infrastructure and is also expanding its team.

"Over the years, we’ve always been fortunate to have a group of amazing people whose ambition and heart fueled us from 0–1 to 1–10. Now, as we gear up for 10–100," Kumar wrote.

Founded in 2018 by Kumar and Sahil Kini, Setu is an application programming interface (API) infrastructure provider that offers services across bill payments, savings, credit and payments. The Reserve Bank of India has given the company the licence to operate as an account aggregator.

The Bengaluru-based firm, which was acquired by payments service provider Pine Labs for around $70 million in 2022, works closely with banks, insurance companies, lending firms, AMCs other financial institutions for the financial architecture integrations.