Pine Labs acquires Fave in a $45-million deal

Merchant commerce platform Pine Labs has acquired Southeast Asian fintech platform Fave in a transaction valued at $45 million. “The acquisition will help both companies accelerate their growth in the Asia region and unlock massive consumer opportunities across retail, F&B, fashion, and FMCG markets. Joining forces with Pine Labs will reinforce Fave’s market position in Southeast Asia,” the companies said in a joint statement on Tuesday.