Indian payments company Pine Labs funding progresses
Indian payments company Pine Labs has received a $150 million investment from US-based asset management firm Alpha Wave Global. The funding will help Pine Labs further expand its presence in the payments solutions space.
According to a report in India's Economic Times, the funding round combines primary and secondary market funding, giving Pine Labs a valuation of more than $5 billion. Amrish Rau, CEO of Pine Labs, confirmed the investment news on Twitter and said that the company will continue to be deeply involved in the fintech space.
Prior to this, Pine Labs had attracted investment from leading firms such as Sequoia Capital, Temasek Holdings, PayPal and MasterCard. In July last year, the company closed a $600 million funding round and in September secured another $100 million from the US-based Invesco Developing Markets Fund.
Pine Labs offers a cloud-based payment commerce platform that provides merchants with payment acceptance and commerce solutions, including enterprise automation systems such as inventory management and customer relationship management.
The Economic Times reported in January this year that Pine Labs had filed for a $500 million initial public offering (IPO) with the US Securities and Exchange Commission (SEC), seeking a valuation of between $6 billion and $7 billion. India's native payment channel
Atpay is a professional provider of payment solutions, deeply involved in the Indian payment services market for many years, providing payment functionality to a large number of domestic and international clients. We specialise in payment integration and high-risk payment processing and welcome enquiries and conversations.
Three-way Payment Matching in India
Chinese
Leave a Reply