This investment round has taken the company's valuation from USD 1.6 billion to USD 2 billion within a year.
The startup was the first to reach a USD 1 billion in valuation in 2020, marking its entry into India’s unicorn club in January when it raised strategic investment from card network giant Mastercard.
Pine Labs is currently the third most-valued fintech in the Indian startup landacape after One97 Communications, valued at USD 16 billion, and PhonePe, which is valued at USD 5.5 billion.
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