Fintech unicorn Pine Labs raised an undisclosed funding from Lone Pine Capital at a valuation of over $2 Bn. CEO B Amrish Rau, tweeted that Lone Pine will join marquee investors such as Sequoia, Temasek, Mastercard and others.
Pine Labs enables online and offline retail transactions. It claims to process $30 Bn payments per year.
“Small businesses and consumers are fast adopting to digital commerce and contactless checkout. We are also seeing tremendous uptake in Pay Later services and have now enabled nearly 150,000 outlets for this. It’s time to invest heavily in offline and online commerce across India and SEA,” Rau said in a press statement.