Pine Labs raises $285 mn in new funding round
May 17, 2021
Several public market cross-over investors participate in the round
Pine Labs, a merchant commerce platform, has announced the completion of first close of its ongoing funding round, raising $285 million from public market cross-over investors, including Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures and Ward Ferry Management.
Existing investors Temasek, Lone Pine Capital and Sunley House Capital also participated in this funding round.
In this oversubscribed round, in addition to primary proceeds, Pine Labs enabled secondary transactions for its founder, employees and early shareholders. Discussions are on to raise another $100 million in this round, it is learnt.
Pine Labs raises $285 million to expand installment lending in Asia paymentssource.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from paymentssource.com Daily Mail and Mail on Sunday newspapers.
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Pine Labs hits $3 billion valuation on $285 million funding round 10 hours ago
1 Mastercard-backed Indian merchant commerce platform Pine Labs has completed a first close of $285M funding at a valuation of $3 billion. Pine Labs currently offers payments terminals, invoicing tools and working capital to more than 150,000 merchants across Asia and the Middle East. The firm in January entered the booming buy now, pay later market with a new proposition in Malaysia, and in April acquired Southeast Asian equivalent Fave for $45 million.
Daily Digest Of Tech Policy News And Updates (May 17, 2021) medianama.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medianama.com Daily Mail and Mail on Sunday newspapers.