Deal Announcement

DC Advisory India advises Qwikcilver Solutions on its sale to Pine Labs

24 Apr 2019

Background

Qwikcilver Solutions (Qwikcilver) was founded in 2006 and backed by leading financial and strategic investors, Helion Venture Partners, Accel, Amazon and Sistema. Qwikcilver leverages a highly scale-able SaaS technology platform combined with a comprehensive suite of services to deliver an end-to-end gift card solution for brands and corporates. The company has operations in India, the Middle East and South East Asia.

Process

DC Advisory India acted as the exclusive financial advisor to Qwikcilver, the leading SaaS-based gift card processing and distribution platform in India, APAC and the Middle East, on its USD 110 million acquisition by Pine Labs, the leading merchant payments platform company in India and South East Asia.

Outcome

The acquisition provides Pine Labs with a market leading gift card processing and distribution platform and expands Pine Labs’ gift card business footprint to over 250 brands and 1,500+ enterprise customers, creating the largest gift solutions business in India.

Deal Team