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Pine Labs Raises $285 Million In New Funding Round

May 17, 2021•about 4 years ago

Amount Raised

$285 Million

Description

Bengaluru: Pine Labs, the digital payments and commerce solutions provider to merchants, said it has raised $285 million in new funding from public market crossover investors, including Marshall Wace, Baron Capital Group, Duro Capital, Moore Strategic Ventures and Ward Ferry Management. Its existing investors—Temasek, Lone Pine Capital and Sunley House Capital have also participated in this funding round.

Company Information

Company

Pine Labs

About

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.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech