Pine Labs raised $600 Mn round led by Fidelity and BlackRock

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Pine Labs has raised $600 Mn led by Fidelity Management & Research Company and BlackRock Inc. Other investors participating in the round include a fund advised by Neuberger Berman Investment Advisers LLC, Ishana, Tree Line, IIFL AMC via its ‘Late-Stage Tech Fund’, and Kotak.

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Pine Labs provides a range of financial services, including point-of-sale devices, merchant commerce, and financing. It has a presence in India, South East Asia, and the Middle East. Shailendra Singh, MD, Sequoia Capital, said Pine Labs had rapidly transformed from a single product company allowing retail acceptance of payments to a broader payments platform.

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