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Miguel Cordon · · 1 min readIndia’s Pine Labs secures $285m at $3b valuation
“Pine Labs, a startup that offers merchants payments terminals, invoicing tools and working capital, said on Monday it is raising US$285 million in a new financing round as the nearly two-decade-old firm looks to expand its business,” TechCrunch reported.
Details:
- Investors include Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures, and Ward Ferry Management. Existing backers such as Temasek, Lone Pine Capital, and Sunley House Capital also participated.
- The latest round valued Pine Labs at roughly US$3 billion; it was valued at around US$2 billion during a round in late 2020.
Context:
- The development comes after the Indian startup acquired Singapore-based fintech platform Fave in a US$45 million deal.
- Pine Labs is also reportedly looking to go public, but CEO Amrish Rau declined to comment on the matter.
Editing by Eileen C. Ang
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