Pine Labs acquired Fave back in April; now valued at $3 billion after new fundraise

Pine Labs is currently in the midst of raising a $285 million round


Carl Adrian

17 May, 2021

Pine Labs acquired Fave back in April; now valued at $3 billion after new fundraise | BEAMSTART News

Pine Labs, payments startup company based in India, has completed the first close of a $285 million funding round.

Just last month, the company acquired Fave, a Malaysia-based mobile payments and customer loyalty platform.

Key Highlights

  • Pine Labs has reached the first close of its $285 million fundraising round.
  • The new round values Pine Labs at $3 billion, a 50% increase from December 2020. 
  • Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures and Ward Ferry Management were investors in the new round, alongside previous investors Temasek, Lone Pine Capital and Sunley House Capital.
  • Back in April, Pine Labs acquired Fave, a Malaysia-based mobile payments and customer loyalty startup company for $45 million.

Why It Matters

  • Pine Labs claims to have over 140,000 merchants in their network.
  • Pine Labs is preparing for aggressive growth across India and Southeast Asia.
  • The company has been making a series of acquisitions over the past few months to further bolster their offerings to the market.

Already a member?

Sign in to read this article & enjoy the following:

  • Access to members-onnly content, events, and more
  • Connect with a global community of CEOs, Business Owners, and more.
  • Free Business Feature & Profile Listing
  • Post Unlimited Jobs & Hire Talent Effectively
  • Connect with Investors and Fundraise
  • Search through entire members, companies, and investors directory
  • and lots more!

Latest Jobs

Senior Marketing

Gallons & Grapes Pte Ltd

Buona Vista, Singapore

Full Time

SGD 4000 — SGD 4500 monthly

English-Korean Freelance Transcriber in Singapore

Elite Asia

Singapore

Contract / Freelance

Salary Undisclosed

Account Manager (Hybrid)

Pinkerton

New York, NY, United States

Full Time

Salary Undisclosed

Customer Service Representative

Gamer's Hideout Sdn. Bhd.

Dataran Prima, Petaling Jaya, Malaysia

Full Time

MYR 3000 — MYR 4000 monthly

GROCERY SHOPPER UP TO $11/H !THEY ORDER, YOU SHOP!

RecruitFirst

SIngapore, Singapore

Contract / Freelance

SGD 9 — SGD 11 monthly

English Technical/Legal Writer

Pacston Technology Group

Kuala Lumpur, Malaysia

Full Time

USD 20000 — USD 60000 monthly

Junior Accounts Cum Admin Assistant

LABEL-LINE CORPORATION PTE LTD

Kallang, Singapore

Full Time

SGD 1600 — SGD 1800 monthly

Head of Developers

TWGT

Manila, Philippines

Full Time

USD 2000 monthly

Carl Adrian

Partnerships & Content Coordinator at BEAMSTART

Based in Singapore

Work Experience Not Specified

Education Not Specified

beamstart.com

Also Mentioned

Related Topics

Payments

More Related Stories

Community Discussions

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).