Pine Labs makes majority investment in Mosambee

Wednesday 13 April 2022 09:20 CET | News

India-based commerce platform Pine Labs has invested into end-to-end payment solution provider Mosambee, valuing it at around USD 100 million.

Since its founding, Mosambee has made roads into elevating the merchant experience through fintech solutions. They were a fit for Pine Labs due to their shared purpose of making fintech products accessible to all and driving forward the digital payment revolution in India.

The leadership team at Mosambee will continue to operate independently and use its proprietary tech platform that has served to the needs of their clients across diverse industry verticals.

As of March 2022, Pine Labs has more than 250,000 merchant relationships across over 675,000 merchant network touchpoints in India and Southeast Asia. With more than 25 issuers on its platform at present, Pine Labs has a significant market presence in the offline Pay Later segment in India.

In February 2022, Mosambee had announced the acquisition of Benow, a digital payments and EMI technology platform. Pine Labs is also scaling its Pay Later proposition to newer markets outside India and recently announced the ‘Mastercard Instalments with Pine Labs’ programme in association with Mastercard and DBS Bank to enable interest-free instalment purchase options to the two million DBS Bank cardholders in Singapore, Indonesia, and Hong Kong SAR.

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Keywords: investment, fintech, merchant, BNPL, instalment payments
Categories: Banking & Fintech
Companies: Mosambee, Pine Labs
Countries: World
This article is part of category

Banking & Fintech



Pine Labs

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