Total amount raised
$1.2 Billions
Latest funding date
3/1/2022
Location
Pine Labs has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The company offers a comprehensive merchant platform that includes a variety of payment solutions and financial services.
Keep reading to explore the intricacies of Pine Labs' fundraising journey and the investors backing this innovative platform.
What Is Pine Labs?
Pine Labs, founded in 1998, is a leading merchant commerce platform based in Noida, Uttar Pradesh, India. The company was established by Lokvir Kapoor, Rajul Garg, and Tarun Upadhyay.
Specializing in providing comprehensive payment solutions, Pine Labs offers a range of services including PoS terminals, Pay Later options, online payment gateways, and loyalty programs. Their technology aims to streamline retail transactions and enhance merchant operations.
With a workforce of 1001-5000 employees, Pine Labs continues to innovate and expand its offerings, catering to various sectors such as electronics, lifestyle, and healthcare.
How Much Funding Has Pine Labs Raised?
- Private Equity Round
- Amount Raised: $50M
- Date: March 2022
- Lead Investors: Vitruvian Partners
- Valuation at Round: Over $5 billion
- Motivation Behind the Round: To strengthen Pine Labs' online payments platform, Plural, and expand its Buy Now Pay Later (BNPL) offerings to new markets through strategic collaborations.
- Secondary Market
- Amount Raised: $150M
- Date: February 2022
- Lead Investors: Alpha Wave Global
- Valuation at Round: Over $5 billion
- Motivation Behind the Round: To support Pine Labs' international expansion and enhance its online platform.
- Corporate Round
- Amount Raised: ₹1.5B
- Date: January 2022
- Lead Investors: State Bank of India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster Pine Labs' financial position and support its growth initiatives.
- Venture Round
- Amount Raised: $100M
- Date: September 2021
- Lead Investors: Invesco
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Pine Labs' growth and expansion plans.
- Venture Round
- Amount Raised: $315M
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel Pine Labs' expansion and innovation efforts.
- Venture Round
- Amount Raised: $285M
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Around $3 billion
- Motivation Behind the Round: To push the company's valuation and support its growth.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: December 2020
- Lead Investors: Lone Pine Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Pine Labs' financial stability and growth.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: January 2020
- Lead Investors: Mastercard
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance Pine Labs' technological capabilities and market reach.
- Secondary Market
- Amount Raised: $125M
- Date: May 2018
- Lead Investors: PayPal Ventures, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Pine Labs' expansion and innovation efforts.
- Venture Round
- Amount Raised: $82M
- Date: March 2018
- Lead Investors: Actis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel Pine Labs' growth and technological advancements.
Pine Labs has raised a total of $1.357B in funding. The current valuation is over $5 billion.
Key Investors
- Vitruvian Partners
- Details: Vitruvian Partners is a growth capital firm based in London, known for investing in dynamic situations characterized by rapid growth and change. The firm manages assets worth approximately €10 billion.
- Investment Focus Areas: Technology, financial services, healthcare, consumer services.
- Notable Investments: Just Eat, Skyscanner, Farfetch.
- Alpha Wave Global
- Details: Alpha Wave Global is a global investment firm that focuses on technology and innovation-driven companies. The firm has a strong presence in both early-stage and late-stage investments.
- Investment Focus Areas: Technology, innovation-driven companies, high-growth sectors.
- Notable Investments: Uber, Alibaba, ByteDance.
- State Bank of India (SBI)
- Details: State Bank of India is a major Indian bank and financial services company headquartered in Mumbai. It is the largest bank in India by assets and market capitalization.
- Investment Focus Areas: Financial services, banking, fintech.
- Notable Investments: Not publicly disclosed.
- Invesco
- Details: Invesco is a global investment management firm headquartered in Atlanta, Georgia. The firm provides a wide range of investment solutions and manages assets for retail and institutional clients.
- Investment Focus Areas: Developing markets, technology, financial services.
- Notable Investments: Not publicly disclosed.
- Actis
- Details: Actis is a leading global investor in sustainable infrastructure. The firm focuses on investments in emerging markets and has a strong track record in private equity and real estate.
- Investment Focus Areas: Infrastructure, private equity, real estate.
- Notable Investments: Not publicly disclosed.
What's Next for Pine Labs?
As Pine Labs looks to the future, the opportunities are vast. The company is poised to strengthen its online payments platform, Plural, and expand its Buy Now Pay Later (BNPL) offerings to new markets. With the digital payments market in India rapidly growing, Pine Labs is well-positioned to capitalize on this trend. Additionally, international expansion and strategic acquisitions, such as the potential acquisition of Setu, offer significant growth potential.
Future fundraising opportunities are also on the horizon. Pine Labs is preparing for a US IPO, which could raise around $500 million, further bolstering its financial position. The company has a history of attracting substantial investments, indicating continued interest from growth capital firms and public market investors.
However, challenges remain. Market volatility and unfavorable economic conditions could delay the IPO. Competition in the fintech space is fierce, and integrating new acquisitions seamlessly will be crucial. Navigating regulatory landscapes in different markets will also require careful strategy. Despite these hurdles, Pine Labs' strategic focus and robust growth plans position it well for future success.
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