Pine Labs to buy gift cards startup Qwikcilver for $110 mn

Noida-based digital payments platform Pine Labs on Tuesday signed a definitive agreement to acquire gift cards-providing startup Qwikcilver Solutions for about $110 million. On completion of the deal, which is subject to a few closing conditions, Qwikcilver Co-founder and CEO Kumar Sudarsan will join Pine Labs' leadership team. Bengaluru-based Qwikcilver is backed by investors including Amazon.