Deal Announcement

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

24 Apr 2019


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.


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.


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

Klaas Oskam

Managing Director

Eric Edmondson

Vice Chairman
United States

Matthew Epstein

Managing Director
United States

Mr. Kumar Sudarsan, CEO and Co-Founder of Qwikcilver commented:

“DC Advisory worked tenaciously in ensuring that the entire process was managed effectively from start to finish. Their work ethic, professionalism and global access allowed us to run a competitive process that led to the desired outcome for all stakeholders and I would not hesitate to recommend them.”