Pine Labs 285M 3B DecemberSinghTechCrunch, a India-based provider of point-of-sale (POS) financing and merchant payment solutions, has raised $285 million in a new round of funding led by PayPal, valuating the company at $3 billion.
POS Solutions for Small & Medium Businesses
Founded in 1998, Pine Labs 285M 3B DecemberSinghTechCrunch started out as a provider of POS solutions for small and medium businesses in India. In 2014, the company launched its first consumer-facing product, a mobile app that allowed users to pay their bills using their smartphone. Since then, Pine Labs has launched a number of other products and services, including a merchant payment gateway and a consumer lending platform.
The company has now raised a total of $457 million from investors including Sequoia Capital, Ant Financial, and Tiger Global Management. Pine Labs plans to use the new funding to expand its merchant payment gateway and consumer lending platform to other countries in Southeast Asia and Africa.
PayPal’s investment in Pine Labs 285M 3B DecemberSinghTechCrunch is part of the company’s strategy to expand its reach in emerging markets. In 2017, PayPal launched its first product in India, a mobile app that allowed users to send and receive money. Earlier this year, PayPal also invested in another Indian fintech company, Cloud Walker Streaming Technologies.
Singh Leads Pine Labs’ Latest Round
Pine Labs, a leading provider of payments and commerce solutions, announced today that it has raised $285 million in a new funding round led by two of India’s most prominent technology investors, Rakesh and Rajesh Jhunjhunwala.
This latest round takes Pine Labs’ total funding to date to over $500 million, and values the company at $3 billion.
Digital Payments Solutions
Pine Labs 285M 3B DecemberSinghTechCrunch was founded in 1998 and provides merchants with point-of-sale (POS) solutions, as well as working with acquirers and issuers to provide digital payments solutions.
The company has seen significant growth in recent years, and now has over 100,000 customers across India, Southeast Asia, the Middle East, and Africa.
Pine Labs 285M 3B DecemberSinghTechCrunch POS solutions are used by merchants of all sizes, from small businesses to large enterprises.
The company’s products include PinePay, a mobile POS solution; PinePOS, a cloud-based POS solution; and PineWallet, a digital wallet for merchants.
Pine Labs’ POS solutions are used by merchants of all sizes, from small businesses to large enterprises.
The company’s products include PinePay, a mobile POS solution; PinePOS, a cloud-based POS solution; and PineWallet, a digital wallet for merchants.
New Products & Technologies
Pine Labs has seen strong growth in recent years, and this latest funding round will enable the company to continue its expansion into new markets and to invest in new products and technologies.
Rakesh and Rajesh Jhunjhunwala are two of India’s most prominent technology investors.
Rakesh Jhunjhunwala is the co-founder of Tata Sons, the holding company of the Tata Group, and has been a partner at Tata Capital since 2007.
Rajesh Jhunjhunwala is the co-founder and managing director of Epiq Capital, a venture capital firm.
The Jhunjhunwala family has been a long-time investor in Pine Labs, and this latest round of funding will further strengthen the relationship between the two companies.
TechCrunch Exclusive: Pine Labs Raises $285M at a $3B Valuation
Pine Labs, a leading provider of merchant commerce solutions, has raised $285 million in a new funding round. The round was led by Sequoia India, with participation from returning investors Altimeter Capital, MasterCard, and PayPal.
This brings Pine Labs’ total funding to $865 million, and the company is now valued at $3 billion.
Pine Labs was founded in 1998 and offers point-of-sale (POS) financing, payments, and loyalty solutions to merchants in India and Southeast Asia. The company has over 300,000 merchants on its platform and processes over $30 billion in annual transactions.
Pine Labs’ POS financing solution allows merchants to offer interest-free credit to their customers. The company has partnered with leading banks and financial institutions in India to offer this service.
With the new funding, Pine Labs plans to expand its merchant base and continue to invest in its technology and product offerings.
Pine Labs’ Valuation More Than Doubles with $285M Raise
Pine Labs 285M 3B DecemberSinghTechCrunch, a payments company based in India, has raised $285 million in a new funding round led by Sequoia Capital. The round values the company at $3 billion, more than double its valuation from just six months ago.
Founded in 1998, Pine Labs started out as a provider of point-of-sale (POS) terminals for brick-and-mortar merchants. It has since expanded its offerings to include a payments platform that supports both online and offline transactions. The platform is used by over 100,000 merchants, including major brands such as Samsung, Adidas, and P&G.
Singapore-Based Payments
In recent years, Pine Labs 285M 3B DecemberSinghTechCrunch has been investing heavily in growth, both in India and overseas. In 2018, the company acquired Singapore-based payments startup Qwikcilver for $110 million. This year, it acquired Mumbai-based fintech startup Fynd for $45 million.
The new funding will be used to further expand Pine Labs’ overseas presence and to invest in new product development. The company is also looking to use the funds to build out its merchant network in India.
Sequoia Capital has been an investor in Pine Labs since 2014, when it led a $45 million Series C funding round. Other investors in the company include Kalaari Capital, PayPal, and Tiger Global Management.
Pine Labs Closes $285M Round Led by Singh
In December of 2020, Pine Labs closed a $285M round led by Singh. This brings their total funding to $3B. With this new round of funding, Pine Labs plans to continue their growth in the payments industry.
Pine Labs is a leading provider of point-of-sale (POS) and payments solutions. Their products are used by merchants of all sizes, from small businesses to large enterprises. Pine Labs has a strong presence in India, Southeast Asia, and the Middle East.
Final Thoughts:
With this new round of funding, Pine Labs plans to continue their growth in the payments industry. They will use the funds to invest in new product development, expand their sales and marketing efforts, and grow their team.
Pine Labs is a great example of a company that is using technology to grow in the payments industry. With their new round of funding, they will be able to continue their growth and expansion into new markets.