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Fidelity, BlackRock Lead Fintech Startup's $600 Million Funding


Saritha Rai, Bloomberg News
Lights illuminate USB cables inside a mining rig computer, used to mine cryptocurrency, in Budapest, Hungary, on Wednesday, Jan. 31, 2018. Cryptocurrencies are not living up to their comparisons with gold as a store of value, tumbling Monday as an equities sell-off in Asia extended the biggest rout in global stocks in two years. Photographer: Akos Stiller/Bloomberg
, Bloomberg
(Bloomberg) Pine Labs Pvt, a payments platform for merchants in India and Southeast Asia, closed a $600 million fundraising round with some of the world’s largest investors including Fidelity Management & Research Co. and BlackRock Inc. as it targets a public offering within 18 months.The Singapore-based startup, which offers solutions for in-store and online payments as well as prepaid, loyalty and “pay later” programs, is valued at $3 billion, Chief Executive Officer Amrish Rau said. Investors par ....

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