Private Equity

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Merchant commerce co Pine Labs picks up majority stake in payments co Mosambee

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Singapore-based merchant commerce platform Pine Labs has picked a majority stake in Mumbai-based payments solution provider Mosambee, at an estimated enterprise valuation of USD 100 million. Post-transaction, the leadership team at Mosambee will continue to operate independently. Mosambee offers merchant payment solutions for online as well as offline merchants including mobile point of sale (mPoS) system as well as a wallets payment system. It has clients in India and six other countries. Last year, Pine Labs acquired Singapore-based loyalty payments startup Fave, In 2022, it acquired Qfix.

From the Venture Intelligence PE-VC Deal Database: Between Apr-13 and Mar-17, Mosambee had raised INR 18 Cr from Rajasthan VC, SIDBI VC. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)