Pine Labs raises $285 million from new crossover investors :

Pine Labs raises fresh funds at $3 billion valuation
© Jagyaseni Biswas
Pine Labs raises fresh funds at $3 billion valuation
Merchant commerce platform Pine Labs has raised $285 million in a new round of funding from public market crossover investors including Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures and Ward Ferry Management. Existing investors Temasek, Lone Pine Capital and Sunley House Capital also participated in this round.
According to the company, this was an oversubscribed round. In addition to primary proceeds, in this round, the company also enabled secondary transactions for its founder, employees and early shareholders.
Pine Labs has set up a strong base in merchant payments and now plans to scale in the online space as well, at the same time continue to power the credit and commerce needs of its offline merchant partners.

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