Pine labs get funding from Lone Pine at over $2 billion valuations. Sequoia, Temasek, Mastercard among others are existing investors of Pine labs. The company CEO B Amrish Rau said that they will heavily invest in offline and online commerce across India and Southeast Asia.
This year company entered in the unicorn club and last raised funding from Mastercard in January. Pine labs did not disclose the funding amount. The company is working on merchant services, BNPL product and consumer loyalty programmes.
In March of this year, B Amrish Rau joins Pine labs as chief executive officer. In Malaysia 25k merchant outlets with its ‘Pay Later’ solution. In India, 75 percent Pine labs estimated share in the offline EMI market.