IndiaTechDesk - India's Leading Tech and Startup Media Publication
  • Home
  • TOPICS
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Business
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Ecosystem & Lists
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • Investments
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • enterprise
    • SaaS
  • Venture capital
  • Events
  • Lists
No Result
View All Result
  • Home
  • TOPICS
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Business
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Ecosystem & Lists
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • Investments
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • enterprise
    • SaaS
  • Venture capital
  • Events
  • Lists
No Result
View All Result
IndiaTechDesk - India's Leading Tech and Startup Media Publication
No Result
View All Result
Home FinTech

Pine Labs Secretly Files Papers with the US Securities and Exchange Commission

IndiaTechDesk Editor by IndiaTechDesk Editor
January 10, 2022
in FinTech
56 2
0
Pine Labs

Pine Labs offers cutting-edge fintech solutions to merchants across Asia.

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Asia-based digital payments provider, Pine Labs, is preparing for a listing in the US and is expected to fetch around $500 million. Sources familiar with the matter said that the company has confidentially filed the papers with the US Securities and Exchange Commission.

The Temasek and Mastercard-backed company’s listing for an initial public offering (IPO) in New York as early as the first half of this year could give it a valuation of about $5.5 billion to $7 billion

Goldman Sachs Group Inc and Morgan Stanley are the lead banks for the deal. Discussions are on and the issue size and timing details are subject to change. However, representatives of the Singapore-based Pine Labs and Goldman Sachs and Morgan Stanley have declined to comment.

Company minting profit for past few years

In August 2021, the company first announced that it is considering an IPO in 2022. According to a statement, Chief Executive Officer Amrish Rao had raised $600 million from investors, including Fidelity Management and Research Company and BlackRock Inc. The company said it targets a public offering within 18 months and has been in profit for several years.

Following this deal, in September 2021, the company raised $100 million from US-based investment management company Invesco. The investment was made through Invesco Developing Markets Fund. Rao had said that time that the company’s valuation at that time was assumed to be $3 billion.

The trust of its investors backs the company

The company, which provides merchants payment PoS and Buy Now Pay Later (BNPL) solutions, is backed by several global investors, including Sequoia Capital, Temasek Holdings, Actis, PayPal and MasterCard. In the same month, India’s largest commercial bank State Bank of India, invested $ 20 million in the startup.

Pine Labs serves over 150,000 merchants in India, the Middle East and Southeast Asia. The company entered the consumer payments space in April 2021, both organically and through acquiring the consumer fintech platform Fave.

The digital payment gateway and commerce platform primarily operating in India support payments for enterprise customers, including Apple Inc., McDonald’s Corp. and Starbucks Corp.

Tags: Fintechindian startupIPO
IndiaTechDesk Editor

IndiaTechDesk Editor

IndiaTechDesk is part of beSUCCESS Media group, focusing on Indian startup and tech news, trends and analysis. Write to us at press@indiatechdesk.com.

Related Posts

Perfios Secures $229 Million.
FinTech

Perfios Secures $229 Million in Series D Funding Led by Kedaara Capital

September 11, 2023
CredRight
FinTech

CredRight Raises $9.7 Million to Revolutionize MSME Financing Globally

August 31, 2023
Credgenics secures funding for global expansion and financial empowerment through advanced debt recovery solutions.
FinTech

Debt Recovery Platform Credgenics Raises $50M in Series B Funding Round, Valued at $350M

August 9, 2023
Travel Fintech Startup Scapia Raises $9 Million in Seed Funding Led by Matrix Partners India
FinTech

Travel Fintech Startup Scapia Raises $9 Million in Seed Funding Led by Matrix Partners India

June 29, 2023
Rural Fintech Startup Navadhan Bags $1.5 Million in Seed Funding Round
FinTech

Rural Fintech Startup Navadhan Bags $1.5 Million in Seed Funding Round

June 22, 2023
PhonePe Raises $100 Million in Funding at a Valuation of $12 Billion
FinTech

PhonePe Raises $100 Million in Funding at a Valuation of $12 Billion

May 30, 2023
No Result
View All Result

Trending Posts

  • Atlys Secures $12 Million in Series A Funding to Transform Visa Application Process
    Atlys Secures $12 Million in Series A Funding to Transform Visa Application Process
    by MinSeptember 21, 2023
  • 5 Steps to Secure Capital From VC Firms in India
    5 Steps to Secure Capital From VC Firms in India
    by IndiaTechDesk EditorJanuary 28, 2020
  • 5 Most Recent Startup Failures in India
    5 Most Recent Startup Failures in India
    by IndiaTechDesk EditorJanuary 24, 2020
  • 6 Active Angel Investors in India For 2020
    6 Active Angel Investors in India For 2020
    by IndiaTechDesk EditorJanuary 22, 2020
  • Top 5 Low-cost High-profit Business Ideas in India for 2020
    Top 5 Low-cost High-profit Business Ideas in India for 2020
    by IndiaTechDesk EditorJanuary 21, 2020
  • 6 Startup Laws in India You Should Consider To Get Started
    6 Startup Laws in India You Should Consider To Get Started
    by IndiaTechDesk EditorJanuary 20, 2020
  • Top 5 Startup Programs by the Indian Government
    Top 5 Startup Programs by the Indian Government
    by IndiaTechDesk EditorJanuary 17, 2020
  • Top 5 Startup Predictions for India in 2020
    Top 5 Startup Predictions for India in 2020
    by IndiaTechDesk EditorJanuary 15, 2020
  • 5 Biggest Indian Startup Acquisitions of 2019
    5 Biggest Indian Startup Acquisitions of 2019
    by IndiaTechDesk EditorJanuary 14, 2020
  • 5 Best-Kept Secrets of Amazon’s Incredible Success in India
    5 Best-Kept Secrets of Amazon’s Incredible Success in India
    by IndiaTechDesk EditorJanuary 12, 2020




Products

Apple 20W USB-C Power Adapter

Apple MagSafe Battery Pack

Apple AirPods Pro (2nd Generation) Wireless Earbuds

Apple Lightning to USB Cable

ABOUT US

IndiaTechDesk is obsessed with the Indian startup ecosystem, offering intelligent, engaging coverage of the innovations, emerging startups, and entrepreneurship in India.....read more

Follow Us

FREE NEWSLETTER

 

Categories
  • Accelerator
  • Agriculture
  • AI & Big Data
  • AR & VR
  • Bitcoin
  • Blockchain
  • Business
  • Clean Technology
  • Competitions
  • Content & Games
  • Coronavirus
  • Cryptocurrency
  • Cybersecurity
  • E-commerce
  • Ecosystem & Lists
  • Education
  • enterprise
  • Enterprise & SaaS
  • entertainment
  • Events
  • featured
  • FinTech
  • Gadgets & Electronics
  • Gaming
  • Guide
  • Health & Bio
  • Incubator
  • Indian Startups
  • Indian Women
  • Insurance
  • Interviews
  • Investments
  • IoT
  • Manufacturing
  • Market
  • Marketplaces & E-commerce
  • Regulation
  • Robotics
  • SaaS
  • Space Startup
  • Transportation & Logistics
  • Travel
  • Uncategorized
  • Venture capital
  • “Contact: press@indiatechdesk.com”
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
  • About Us

Copyright © 2023 indiatechdesk.com

No Result
View All Result
  • Home
  • TOPICS
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Business
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Ecosystem & Lists
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • Investments
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • enterprise
    • SaaS
  • Venture capital
  • Events
  • Lists

Copyright © 2023 indiatechdesk.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In