Pine Labs raises USD 100 mln in investment round

Monday 21 December 2020 14:36 CET | News

India-based payments solution provider Pine Labs has raised around USD 100 million from Lone Pine Capital as part of a secondary and primary share sale.

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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Keywords: Pine Labs, Lone Pine Capital, funding round, investment round
Categories: Payments & Commerce
Countries: India
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