Unicorn fintech firm Pine Labs acquires Fave in deal valued over $45 mn

Malaysia-based company Fave, which provides QR payments and loyalty cashback to restaurants and retailers, has enabled 6 million consumers in Southeast Asia to save over $400 million since 2016

Unicorn fintech company Pine Labs has acquired Fave, Southeast Asia’s fast-growing consumer fintech platform, in a deal valued over $45 million. Malaysia-based company Fave provides QR payments and loyalty cashback to restaurants and retailers. It has enabled 6 million consumers in SEA to save over $400 million across 40,000 retailers since 2016. With this acquisition, Indian consumers will be able to use the Fave app later this year to save across 500,000 merchant network points powered by Pine Labs across 3,700 in India.

The acquisition will help both companies accelerate their growth in the Asia region. It would unlock massive