Proprietary enterprise platform from Saluto Wellness acquired by Pine Labs

Pine Labs, a top omnichannel merchant commerce business, announced that it had purchased a proprietary enterprise platform from Saluto Wellness Private Limited of Bengaluru.

With increased capabilities under the Qwikcilver brand, Pine Labs’ Issuing Business will be better able to serve medium-sized and large-sized businesses with its services for channel partner programmes, customer loyalty programmes, and employee incentives and recognition.

Commenting on the development, Kumar Sudarsan, President, Issuing Business, Pine Labs, said ”With Saluto’s platform, we expect to further enhance our leadership across Enterprise Rewards, Recognition, Incentive & Engagement programs. Saluto’s multi-tenant, the enterprise-grade offering will give us additional capabilities to complement our strengths. Their solution, integrated with our offerings, will help us deliver more programs to our existing enterprise clients – resulting in larger and more long-term engagements. The leadership team at Saluto has over 40 years of collective experience across rewards, incentives, and loyalty”.

”Our enterprise solutions are today being used across diverse industry verticals and we are excited to become part of a fast-growing, progressive FinTech like Pine Labs and together scale our business further.
We have already established a good working relationship with the Pine Labs team and look forward to being a driving force to further Pine Labs’ leadership in this space with innovative outcomes,” said K. Siva Kumar, Co-founder, and CEO of Saluto Wellness.

The agreement’s terms were kept confidential.