Pine Labs CFO Marc Mathenz Resigns Ahead Of USD 1 Billion IPO Filing

Marc Mathenz, Group Chief Financial Officer (CFO) of Pine Labs, will step down in the coming weeks, citing personal reasons, according to a report by Moneycontrol.

Mathenz’s resignation comes as the fintech company prepares to file its draft red herring prospectus (DRHP) for an initial public offering in late 2025, expected to raise USD 1 billion. Mathenz joined Pine Labs in 2021 and led finance operations at the group level. He had succeeded Sameer Maheshwary, who now serves as Senior Vice President (VP) of Capital Markets. The company has not yet announced Mathenz’s successor. Pine Labs, backed by investors such as Peak XV Partners, PayPal, Mastercard, and Temasek, was last valued at USD 5 billion following a funding round in 2022.