Mumbai: Merchant commerce platform Pine Labs on Tuesday announced the appointment of CRED founder Kunal Shah to the company’s board.

"Kunal joins a marquee set of investors, advisors, and other visionary board members who are all committed to take Pine Labs to newer heights. Kunal’s deep understanding of the consumer business will be invaluable to us as we explore new opportunities and step into our next phase of growth," said Pine Labs CEO, B Amrish Rau.

Shah is an entrepreneur and an investor. He has nearly 100 investments across financial services, consumer, and technology. "An ardent believer in the role of financial well-being in driving progress, Kunal actively promotes and participates in financial literacy, wealth-creation, and female workforce participation initiatives in India and around the world," the company said in a statement.

Shah has been an advisor to the board of Bennett Coleman & Co Ltd (Times of India), the chairman of the Internet and Mobile Association of India, and an advisor to Sequoia Capital India. Before CRED, Kunal founded Freecharge.

“The pandemic has catalysed behaviour change among consumers, merchants, and institutions that will drive the fintech sector," Kunal Shah stated. "Shaping this transformation for the benefit of all stakeholders is a collective responsibility. Pine Labs is a player in digital payments adoption and joining its board is an opportunity to contribute to the ecosystem."