Pine Labs raises $285 million in new funding round

Bengaluru: 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.

ET was the first to report in its May 17 edition that Pine Labs was in the final stages of talks to raise $300 million and that the total fundraise could swell to $400 million. Pine Labs’ valuation is pegged at over $3 billion, but the company did not disclose details.