PE Fund Investments
Fintech unicorn Pine Labs raises $150-M from Alpha Wave at $5-B valuation
Noida- and Singapore-based merchant payments platform Pine Labs has raised USD 150 million in a mix of primary and secondary funding from Alpha Wave Global, in a deal that values the IPO-bound Unicorn company at over USD 5 billion. The first tranche of USD 75 million from Alpha Wave has already been disbursed. The financing deal also includes a secondary round in the range of USD 50-75 million. In January, the fintech company filed for a ‘confidential' initial public offering (IPO) worth USD 500 million with the US Securities and Exchange Commission, and is seeking a valuation between USD 6 billion and USD 7 billion. In the same month it raised USD 20 million from State Bank of India. Backed by investors including Sequoia Capital, Temasek Holdings, Actis, PayPal and Mastercard, Pine Labs is expanding its offerings in the domestic market and has increased its footprint across the SE Asian geographies.
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