Pine Labs raises $600 mn at $3 Billion Valuation
Singapore, July 6, 2021 - Pine Labs, one of Asia’s leading merchant commerce platforms raises $600 million with the entry of new investors Fidelity Management, BlackRock, Ishana, Tree Line, and a fund advised by Neuberger Berman Investment Advisers LLC at $3 billion valuations.
IIFL AMC via its ‘Late-Stage Tech Fund’ and Kotak are also participating in this investment round.
Pine Labs continues to be well-financed and has been EBITDA profitable for several years. The company is backed by Sequoia Capital, Temasek Holdings, Actis, PayPal and Mastercard amongst other leading global investors.
“Over the last year, Pine Labs has made significant progress in its Offline to Online strategy in India and the direct-to-consumer play in Southeast Asia. Our full-stack approach to payments a...