Pine Labs Raises $50 Million at $5 Billion Valuation

Pine Labs is a commerce platform that offers merchants last-mile retail transaction and financing technology. It aims to help merchants to reduce costs, risks, and complexity, as well as to increase revenue. The Pine Labs platform connects consumer brands and financial institutions, thus enabling merchants to deliver value to their customers.

Pine Labs got its new investments from Vitruvian Partners, London. In total, the company has raised $920 million during the last eight months, among investors are Sequoia Capital, Temasek Holdings, Actis, PayPal, and Mastercard. The investments also include $150 million from Alpha Wave Global. In plans, the company is going to augment its merchant commerce offerings. Besides, investments in Plural, a newly launched online payment product.

Pine Labs, India, was founded by Rajul Garg, Tarun Upaday in 1998. “We aim to further strengthen our recent foray in online payments via Plural and take our Buy Now Pay Later offering to new markets through strategic collaborations,” B Amrish Rau, CEO at Pine Labs. Buy Now Pay Later (BNPL) is going to be expanded across Southeast Asia and India. Previously, the company launched the ‘Mastercard Installments with Pine Labs’ program in partnership with Mastercard and DBS Bank to give customers from Singapore, Indonesia, and Hong Kong SAR the Pay Later option.

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