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.