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Pe Major Vitruvian Partners Invests $50M In Pine Labs

Pe Major Vitruvian Partners Invests $50M In Pine Labs

03/29/22, 12:31 AM
Money raised
$50 million
Bengaluru: Digital payments and financial service provider Pine Labs has closed another $50 million in funding from London’s private equity major Vitruvian Partners at a valuation of just over $5 billion, according to regulatory documents in Singapore and people briefed on the matter.

Company Info

Company
Pine Labs
Additional Info
The startup says it processes tens of billions of payment transactions. Over 6 million consumers across over 40,000 merchant establishments now have access to the Fave app, the startup said. Pine Labs said on Tuesday it has closed a $600 million financing round as the Asian merchant commerce platform sets the goal to explore the public markets within two years. “Through its acquisitions of QwikCilver and Fave, Pine Labs now has the market leading pre-paid platform in this region as well as the top consumer loyalty product in this market.