Lokvir Kapoor
Lokvir Kapoor is an Indian business executive and co-founder of the payment technology company Pine LabsPine LabsPine Labs is an Indian payment technology company founded in 1998 and headquartered in Noida, providing in-store and online payments, card issuing, gift-card and related services to merchants, brands and financial institutions. It listed on Indian stock exchanges in November 2025.Open the full entry. He was Pine Labs’ chief executive from 2004 to 2018 and then its executive chairman.
Contents9 sections
Key facts
1987Graduates from IIT Kanpur
Lokvir Kapoor earned a B.Tech in mechanical engineering from the Indian Institute of Technology Kanpur in 1987 and later an MBA from the Indian Institute of Management Bangalore; before Pine Labs he worked in financial management and business development at Schlumberger in India and abroad.[1]
1998Part of Pine Labs’ Founding Team
Kapoor was part of the founding team of Pine Labs, which was set up in 1998.[2]
2004Becomes CEO of Pine Labs
In 2004, after Rajul GargRajul GargRajul Garg is an Indian entrepreneur and venture capitalist who co-founded the payment technology company Pine Labs and also helped found GlobalLogic and Sunstone Business School. He later founded the early-stage technology venture firm Leo Capital.Open the full entry and Tarun Upadhaya left Pine Labs, Kapoor became CEO and spent the next decade moving the company into digital payments.[3]
May 2018Hands Over the CEO Role
Vicky Bindra became CEO of Pine Labs in May 2018; by 2020 Kapoor was the company’s executive chairman.[2]
January 24, 2020Mastercard Partnership
In January 2020, speaking as founder and chairman, Kapoor called Mastercard’s investment “a great validation of the top-quality products” Pine Labs delivered to merchants.[4]
March 2020Welcomes New CEO Amrish Rau
In March 2020 Pine Labs named Amrish Rau to succeed Bindra; Kapoor welcomed Rau and thanked Bindra for setting the company on a high-growth path.[2]
As of November 2025: Steps Aside
In November 2025 investor Peak XVPeak XV PartnersPeak XV Partners is a venture capital firm that grew out of Sequoia’s India and Southeast Asia business, investing across the seed, venture and growth stages in markets including India, Asia-Pacific and the United States. The firm began operating as Sequoia Capital India in 2006 and adopted its current name and became independent in 2023.Open the full entry called Kapoor “a brilliant product thinker and builder” who disliked competing on price, and said he later stepped aside to focus on his family and personal priorities.[5]
Related Organizations, Websites, and Public Accounts
Pine Labs: Official website: https://www.pinelabs.com/ (opens in a new window)[6]
Sources
- Mr. Lokvir Kapoor (opens in a new window)
- Citrus Pay Founder Amrish Rau Joins Pine Labs As CEO (opens in a new window)
- From petrocards to digital payments infrastructure: how Pine Labs stayed ahead of the curve by doing this one thing (opens in a new window)
- Pine Labs announces investment from Mastercard (opens in a new window)
- Pine Labs IPO: The Power of Consistent Compounding (opens in a new window)
- Pine Labs (opens in a new window)