Fintech Funding News: Pine Labs Raises $285 Mn at Valuation of $3 Bn
Offline payments company Pine Labs raises $285 Mn from tier 1 VCs Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures and Ward Ferry Management.
Existing Investors like Temasek, Lone Pine Capital and Sunley House Capital also participated in the round to increase their stake.
This round is touted as pre IPO round for Pine Labs as it prepares for Nasdaq listing in near future.
Pine Labs provides mobile point of sale (PoS) solutions that allow merchants to accept credit and debit card payments. Some other services of Pine Labs include Instant EMI, Instant Discounts, Cashback Programs, PaybyPoints, Loyalty Solutions, eWallet, Targeted Promotions, Dynamic Currency Conversion and Gift Solution.
The customer portfolio of Pine Labs include likes of Manyavar, Daniel Wellington, Amway & Delhi Duty Free to name few.
Pine Labs was founded in 1998 by Lokvir Kapoor, Rajul Garg & Tarun Upaday, its headquartered in Noida,
Pine Lab competitors includes Razorpay, Mswipe, Ezetap, Innoviti, BharatPe, FTCash, Mosambee, Citrus Pay, ePaisa, Paytm.