Insta
Bengaluru: Pine Labs Becomes The First Unicorn Of 2020 With Global Payments Giant Mastercard Joining The Funding Round
Pine Labs (Source: Official Website)
Bengaluru based Point-of-Sales (PoS) services provider Pine Labs has become the first firm to join the club of Indian unicorns in 2020 with the culmination of the latest funding round, reports Economic Times.
The latest funding round of the company witnessed global payments behemoth MasterCard chip, taking the total sum raised to a range of $100-$150 million, valuing the company in the range of $1.5-$1.6 billion.
The latest funding boost to the company comes at a time when it is partaking into a major expansion of its lending business with debit and credit card based financing options, working in partnership with banks and merchants.
The digital payments major has a wide network of 1.4 lakh merchants with over 4.5 lakh network points where its services can be availed. Its core revenue generator is from the monthly fee it generates from its PoS machines deployed across network points.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
