The investors included Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures, and Ward Ferry Management. Existing investors Temasek, Lone Pine Capital, and Sunley House Capital also participated in the round. The new investment takes the valuation of the company to about USD 3 billion, up from about USD 2 billion in December 2020 and USD 1 billion in early 2020.
Pine Labs serves merchants across Asia and the Middle East. It recently launched its buy-now-pay-later solution in Malaysia and has plans to take its instalment solution to other markets in Southeast Asia.
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