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Digital payment & financial service provider Pine Labs raised $50Mn in funds from Vitruvian Partners

Digital payments and financial service provider Pine Labs raised $50 million in funding from London’s private equity major Vitruvian Partners at a valuation of just over $5 billion.

Pine Labs is a merchant platform company based in India that offers financing and last-mile retail transaction technology. This year, the company was planning to enter the Middle East. This includes a $15 million Esop (employee stock ownership plan) buyback at the Noida and Singapore-based company ahead of its planned IPO (initial public offering) in the United States.

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