Nikhil Kumar walks past Setu-branded office exterior, morning
Nikhil Kumar, cofounder of the API infrastructure platform Setu, has stepped down from his day-to-day operational role at the company. Setu, which was acquired by fintech unicorn Pine Labs in 2022, focuses on providing API infrastructure for bill payments, UPI, and KYC services. The company also offers Sesame, an LLM tailored for the banking and financial services sector.
Kumar announced his departure on LinkedIn, marking the end of an eight-year tenure with Setu, which he cofounded in 2018 with Sahil Kini. Prior to Setu, Kumar was involved in founding Voyce, a customer feedback platform acquired by Exotel in 2015.
Setu has secured over $18 million in funding from investors including Lightspeed, Falcon Edge, and Alpha Wave Global. This development follows a period of leadership expansion at Setu last year, which saw the appointment of new executives, including former Razorpay executive Prashanth Nimmagada as CTO.
Kumar’s departure comes amid a trend of senior executives and cofounders leaving prominent companies in the Indian startup ecosystem, with several pursuing new ventures or joining other emerging companies.
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