Indian fintech company Pine Labs, which last month filed draft papers for its IPO, will appoint Sameer Kamath as its chief financial officer.

Kamath, who is currently the group chief financial officer at investment bank Avendus Capital, will join Pine Labs soon, The Economic Times reported citing unidentified people.

Prior to Avendus, Kamath, who has over two decades of experience in the financial services industry, worked with broking firm Motilal Oswal.

Kamath will replace Marc Mathenz, who exited Pine Labs in June, just ahead of the company's filing of the draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (SEBI).

Earlier this week, The Head and Tale exclusively reported that Pine Labs' chief growth officer Mayur Mulani also left the company ahead of its IPO. Mulani has already launched his own venture called TOSS. Last year, Pine Labs' chief revenue officer Navnit Nakra also resigned.

Late last month, Pine Labs filed the DRHP for its IPO, which comprises of fresh issue of shares worth Rs 2,600 crore and an offer for sale (OFS) of up to 14.78 crore shares by existing backers including Peak XV Partners, PayPal and Mastercard.