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Pine Labs: Announced a new investment of US $20M from SBI

Pine Labs: Announced a new investment of US $20M from SBI

  • Pine Labs serves prominent large, mid-sized, and small merchants across India and Southeast Asia
  • Announced a new investment of US $20M from India’s largest commercial bank, the State Bank of India (SBI)
  • Raised a total round size of US $600M from a marquee set of new investors
  • Followed it up with a US $100M fundraise from US-based Invesco Developing Markets Fund
  • In addition to augmenting its merchant commerce offerings at the offline point-of-sale
  • The company has entered the consumer payment space with its April 2021 acquisition of Fave
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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