Pine Labs raises $82 million from Actis Capital, Altimeter, others - News Summed Up

Pine Labs raises $82 million from Actis Capital, Altimeter, others


Sequoia Capital-backed Pine Labs offers cloud-based PoS payments solutions as well as latest methods such as e-wallets, QR code payment solutions and UPI-based solutions. Photo: Priyanka Parashar/MintMumbai: Digital payments platform Pine Labs has raised $82 million in an investment round led by Actis Capital, along with Altimeter Capital, said Lokvir Kapoor, chief executive officer of the fintech startup. The latest funding values Pine Labs at close to $1 billion, two people aware of the development said, requesting anonymity. Pine Labs currently processes 450 million transactions worth over $15 billion on an annualized basis, Kapoor said. Pine Labs’ existing venture capital investor Sequoia Capital first invested in the payments company in 2009.


Source: Mint March 13, 2018 02:37 UTC



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