Singapore's Fave eyes India breakthrough with US$45m sale to unicorn Pine Labs

FINTECH platform Fave is aiming to take flight in India's consumer rewards market, following its US$45 million sale to an Indian merchant commerce company, founder and chief executive Joel Neoh told The Business Times (BT).

On Tuesday, Fave announced it has been acquired by India's Pine Labs in a US$45 million cash-and-stock deal. The startup will continue to retain its leadership structure, and will enter the Indian market later this year.

Fave will hire over 100 new employees in South-east Asia and India - in roles such as sales, data and product development - to drive consumer app adoption in both regions.