Page 62 - Pine Labs News Today

SBI to invest $20 mn in merchant commerce platform Pine Labs

IPO-bound Pine Labs has announced to have raised $20 Mn in a fresh round of investment from the country’s largest commercial bank SBI

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).

Indian financial technology startups raised more venture capital money in 2021 than they have in any year before. From payments to cryptocurrencies and buy-now-pay-later, venture capitalists backed a host of companies looking to disrupt the traditional financial sector. According to data from Venture Intelligence, Indian fintechs had raised $6.9 billion as of December 15, compared to $1.6 billion in 2020. This is the highest on record.

In 2022, digital payments compliance in India will require mandatory deletion of card-on-file details, thereby opening space for fintech disruptors.

A bunch of India's most valuable start-ups or new-age technology companies are now seeking to upend traditional performance/profit-based investment theses and allure investors to bet on their loss-making ventures on the public market.

Pine Labs is looking to Southeast Asia to expand its growing BNPL business despite regulatory challenges and bad debt concerns for the sector. Read more…

Kevin Phalen who was working as head of global commercial business at Visa will now help PayMate to expand globally

Indian startup IPOs were on the rise this year. Notable names from the Indian startup ecosystem have either listed or have filled for IPO.

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