Pine Labs receives investment of $20 mn from SBI
04-January-2022
Leading merchant commerce platform Pine Labs on Tuesday announced that
it has received new investment of $20 million from the State Bank of
India (SBI).
Earlier in 2021, Pine Labs had raised a total round
size of $600 million from a marquee set of new investors and followed it
up with a $100 million fundraise from US-based Invesco Developing
Markets Fund.
"We are thrilled to have the largest bank of India,
the State Bank of India, place their trust in us and welcome them in
this journey where we are empowering merchants with seamless and secure
payment experiences across offline and online platforms," B. Amrish Rau,
CEO, Pine Labs, said in a statement.
"In the last one year,
several marquee investors have placed their trust in our business model
and growth momentum and that is a gratifying feeling. This association
with SBI is a personally satisfying experience as I had started my
career selling financial services technology to SBI," Rau added.
Pine Labs also said it is now looking to invest in scaling Plural, its newly launched brand of online payment products and emerge as an omnichannel partner of choice for merchants.
Pine Labs is also expanding its Buy Now Pay Later business across India and Southeast Asia. - IANS
- 0
-
-
-
-
Chennai’s Gig Worker Lounges Praised, But Disability Rights Groups Raise Red Flag
Punjab Police Arrest NRI in Hit-and-Run Death of 114-Year-Old Fauja Singh
Tesla Model Y Debuts in India with 500 Km Range, Rs 59.89 Lakh Price Tag
Mitchell Starc Takes Fastest Five-Wicket Haul in Test History, Bundles Out West Indies for 27
Veteran Actress B. Saroja Devi Passes Away at 87, Tributes Pour In
