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Temasek-backed Pine Labs raises $807 million from investors


BENGALURU (BLOOMBERG) - Pine Labs, a payments platform for merchants in India and South-east Asia, closed a US$600 million (S$807 million) fund-raising round with some of the world s largest investors, including Fidelity Management & Research and BlackRock, as it targets an initial public offering (IPO) within 18 months.
The Singapore-based start-up, which offers solutions for in-store and online payments as well as prepaid, loyalty and pay later programmes, is valued at US$3 billion, chief executive Amrish Rau said. Investors participating in the round included a fund advised by Neuberger Berman Group and India s IIFL Finance and Kotak Funds.
Banks and merchants pay monthly fees for using Pine Labs software as a service, with the start-up also receiving micro-fees on every transaction. Payment services are gaining popularity in Asia as smartphones become more widespread, benefiting providers such as Pine Labs. ....

United States , South Australia , Bamrish Rau , Neuberger Berman Group , Fidelity Management Research , Samsung Electronics , Pine Lab , Sequoia Capital , Southeast Asia , Fidelity Management , Middle East , ஒன்றுபட்டது மாநிலங்களில் , கருப்பு பாறை , தெற்கு ஆஸ்திரேலியா , அம்ரிஷ் ரௌ , நேஉபெற்கேற் பெர்மன் குழு , நம்பகத்தன்மை மேலாண்மை ஆராய்ச்சி , சாம்சங் மின்னணுவியல் , பைன் ஆய்வகம் , சீக்வோயா மூலதனம் , தென்கிழக்கு ஆசியா , நம்பகத்தன்மை மேலாண்மை , நடுத்தர கிழக்கு ,

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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Fidelity, BlackRock lead Pine Labs' $600 million funding ahead of IPO


Pine Labs gets funding at $3.5-billion valuation ahead of US IPO
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Synopsis
Fintech startup Pine Labs has raised $315 million from Fidelity and BlackRock, among others, to close its latest funding round at $600 million. The company is eyeing a US IPO in the next 18 months, CEO Amrish Rau says.
Amrish Rau, co-founder and chief executive oficer, Pine Labs.
Mumbai: Payments and merchant commerce startup Pine Labs has raised $315 million from a slew of new investors such as Fidelity Management, as well as funds managed by BlackRock, Ishana, Tree Line, and Neuberger Berman Investment Advisers.
The fintech company announced in June that ....

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