Pine Labs processes transactions worth $15 billion (annualized) on a base of 300,000 payments acceptance points. Mumbai: Pine Labs, a digital retail payments platform backed by Sequoia Capital and Actis, on Thursday announced that Singapore’s Temasek Holdings Pvt. Ltd and digital payments company PayPal Holdings Inc. have acquired minority stakes in the company, investing a total of $125 million. Mint had reported on 6 May that Temasek was in talks to invest in Pine Labs. Temasek, with its deep network in many Asian markets and extensive knowledge of financial services companies, is a great partner for Pine Labs as it ramps up its regional expansion, said Pine Labs in a statement.

Source: Mint May 31, 2018 05:48 UTC