Pine Labs Receives Huge Funding to Expand Internationally
Pine Labs, a payment service provider, received a funding round of $82 million from Actis Capital and Altimeter Capital announced Lokvir Kapoor, CEO of the company.
Although the exact amount of shares sold by Pine Labs remained secret, two individuals close to the firm revealed as anonymous source that the funding values the FinTech startup at close to $1 billion. This funding comes at a time when digital payments providers in India are increasingly attractive to investors. The funding round at Pine Labs comes after the company initiated sale talks with tactical bodies but unfortunately didn’t conclude in a deal.
Pine Labs provide cloud-based point of sale (PoS) payment solutions, enabling merchants to accept credit or debit card payments, e-wallets, QR code payment solutions and uni...