Flipkart Gets a Lending Licence: A Bold Leap into Embedded Finance
28th June 2025
11 April 2025
1 min read
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In a landmark development, fintech unicorn Pine Labs has received the final approval from the National Company Law Tribunal (NCLT) to complete its reverse flipping process—relocating its holding structure from Singapore back to India. This strategic move is set to strengthen its domestic footprint and aligns with a growing trend of Indian startups re-domiciling in their home country.
The reverse flip involves merging Pine Labs’ Singapore-based entity with its Indian operations, a decision driven by long-term goals such as regulatory alignment, IPO readiness, and ease of capital access within India’s maturing financial ecosystem.
This development places Pine Labs among a select group of high-growth tech companies—including Zepto and Razorpay—that are shifting base back to India amid rising investor confidence and government encouragement to build in and for India.
By bringing its structure home, Pine Labs not only simplifies its corporate framework but also signals its intent to deepen its commitment to the Indian fintech landscape.
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