Pine Labs gets USD 600 million; eyes US listing

Pine Labs is reportedly eyeing a listing on US stock exchanges by next year, joining the line of tech startups betting big on public markets for large capital raise.

Published: 07th July 2021 10:28 AM  |   Last Updated: 07th July 2021 10:28 AM   |  A+A A-

Foreign exchange, US Dollar, Dollar notes

For representational purpose. (File photo)

By Express News Service

BENGALURU:  Merchant payments startup Pine Labs has announced the closure of a $600 million fundraising round at a $3.5 billion valuation led by Fidelty Management, BlackRock and by the Ishana, Tree Line, a fund advised by Neuberger Berman Advisers.

Pine Labs is reportedly eyeing a listing on US stock exchanges by next year, joining the line of tech startups betting big on public markets for large capital raise. The firm’s valuation has seen a significant jump from its earlier fundraise during December last year when it was valued at over $2 billion. 

The digital payments firm is in the league of startups that are EBITDA-positive and are bullish on acquisitions and new launches during the pandemic when the online transactions grew exponentially.

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