Digital payments startup, Pine Labs has raised Rs 530 crores (around $82m) in a Series E funding round led by PE firm Actis Capital along with tech-focused US investment firm Altimeter Capital, as reported by Mint and VC Circle. It was also reported that with the latest funding, the valuation of the PoS solutions provider may raise to $1bn.
Themis Associates acted for existing investor
Naveen Goel Law Offices
Founded in 1998 by Rajul Garg, Pine Labs offers a cloud-based point-of-sale payments solutions, allowing merchants to accept credit or debit card payments, as well as latest methods such as e-wallets, QR code payment solutions and UPI-based solutions. The current funding is expected to help Pine Labs build on its network in India and expand its operations overseas.
2018-03-13
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