Pine Labs, which offers merchants payment technology and working capital, has completed a new round of financing of $285 million, said the unicorn fintech company on Monday The investors included 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. The new investment takes the valuation of the Noida-based company to about $3 billion, up from about $2 billion in a funding round last year in December and $1 billion in early 2020, according to the sources.
Pine Labs said it enabled secondary transactions for its founder, employees and early shareholders. “This is an exciting phase in our journey as we enter newer markets,” said B. Amrish Rau, CEO, Pine Labs. “We excel in enterprise merchant payments and now want to scale new frontiers in the online space as well, at the same time continue to power the credit and comm
Temasek-backed Indian unicorn Pine Labs makes first close of $285m funding round
Visual from Pine Labs website
May 17, 2021
Pine Labs, an Indian merchant commerce platform unicorn, announced that it has completed the first close of its $285 million new funding round backed by existing investor Temasek.
The new round of financing was participated by a host of investors, including Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures, Ward Ferry Management, and existing investors Lone Capital and Sunley House Capital.
Pine Labs said the round was significantly oversubscribed and enabled secondary transactions for its founder, employees, and early shareholders.
“This is an exciting phase in our journey as we enter newer markets. We excel in enterprise merchant payments and now want to scale new frontiers in the online space as well, at the same time continue to power the credit and commerce needs of our offline merchant partners,” said B. Amrish Rau, the c
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.