India: Pine Labs' valuation tops $2b after Lone Pine investment

Merchant commerce platform Pine Labs today announced it has raised a fresh round of funding from Lone Pine Capital. With this investment, Pine Labs is now valued at over $2 billion.

“We are thrilled to welcome Lone Pine as an investor during this exciting and transformative phase of Pine Labs’ growth journey,” commented B. Amrish Rau, CEO, Pine Labs. “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.”

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