Pine Labs, the digital payments and commerce solutions provider to merchants, said it has raised $285 million in new funding from public market crossover investors, including Marshall Wace, Baron Capital Group, Duro Capital, Moore Strategic Ventures and Ward Ferry Management. Its existing investors—Temasek, Lone Pine Capital and Sunley House Capital have also participated in this funding round.
With the fundraise, Pine Labs’ valuation rose up to USD 3 billion. The POS device and merchant commerce platform plans to use the fresh funds to scale its merchant network both in the online space as well as continue to power the credit and commerce needs of their offline merchant partners.
Phoenix Legal advised
Allen & Gledhill LLP, Simmons & Simmons, and the Hong Kong-based team of Goodwin Proctor acted as the international legal counsel to investors and the existing shareholders of Pine Labs.
Nishith Desai Associates, AZB & Partners Khaitan & Co acted and represented as the Indian legal counsel to investors and existing shareholders in the deal.
2021-05-17
Deal value: INR 2078 crores (USD 285 million)
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