Goldman Sachs and Morgan Stanley are the lead banks on the deal, according to bnnbloomberg.ca. The company in July 2021 raised about USD 600 million from investors, including Fidelity Management & Research and BlackRock, according to Pine Labs. It also said it was targeting a public offering within 18 months.
Pine Labs serves over 150,000 merchants in India, the Middle East, and Southeast Asia. The company has expanded both organically and via acquisitions, including consumer fintech platform Fave in 2021. The digital payments gateway and commerce platform, whose main operations are in India, supports payments for enterprise customers including Apple, McDonald’s, and Starbucks Corp.
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