Other Private Equity/Strategic Investments
Merchant platform Pine Labs attracts $20-M from SBI
Singapore- and Noida-based Unicorn merchant platform Pine Labs has raised USD 20 million from Mumbai-based, publicly listed State Bank of India (SBI). Last year, Pine Labs had raised USD 600 million in all from a set of new investors and followed it up with a USD 100 million fundraise from US-based Invesco Developing Markets Fund. In addition to augmenting its merchant commerce offerings at the offline point-of-sale, Pine Labs is now looking to invest in scaling Plural, its newly launched brand of online payment products.
From the Venture Intelligence PE-VC Deal Database: Between Apr-09 and Sep-21, Pine Labs raised $1,238-M from Invesco, Neuberger Berman, Fidelity India, IIFL VC, Tree Line Asia, Kotak Investment Advisors, Lone Pine Capital, Moore Strategic Ventures, Temasek, Mastercard, Actis, PayPal, Altimeter Capital, Madison India, New Atlantic Ventures, Sequoia Capital India, and others. Some investors have made partial exits.
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