# Pine Labs Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pine-labs-private

- Industry: Financial Services
- Headquarters: Noida, India
- Website: www.pinelabs.com/
- Total disclosed funding: $475M
- Latest round: Series L (Feb 17, 2022)
- Investors on record: 22

## About

Based in Noida, India, and founded in 1998, Pine Labs Private Limited is a fintech solutions company that provides a merchant platform and makes software for point-of-sale (PoS) machines. In India, the firm has over 70,000 merchants, including prominent shops such as Marks and Spencer's Retail, Pantaloons, Shoppers Stop, and Westside. Pine Labs entered the mainstream payments and banking solutions for retailers in 2004. In?September 2026,??ICICI Prudential Life Insurance, Societe Generale Venture, and Citigroup Singapore acquired a stake in?PQY Inc.?from?Mastercard Incorporated for INR 93.35 billion.

The company provides a merchant platform with technological and financial solutions to assist merchants in boosting revenue, decreasing the cost and complexity in business, and managing the risks. The platform enables physical and online last-mile retail transactions and provides merchants with customer data for targeted sales to help them develop their businesses. The company’s solutions to set up payments include contactless payment, UPI, mobile wallets, PoS devices (Plutus PoS), online payments, and omnichannel services. Pine Labs offer business tools that include pay later, loyalty, working capital, and utility app integrations for customers and business.

## Funding rounds

- Series L, Feb 17, 2022, $75M — Alpha Wave Global
- Series G, Aug 2, 2021, $207M — Marshall Wace, WFM Asia, Goldman Sachs Asset Management, BlackRock, Lone Pine Capital, Advent Global Opportunities, Ishana Capital, Moore Strategic Ventures, Smallcap World Fund, Duro Capital, Lenarco Limited, Aranda Investments Pte. Ltd, Baron
- Series D, Apr 10, 2019, $62M — Sofina, Actis, Temasek Holdings, PayPal, Inc.
- Series C, Jun 7, 2018, $62M — Sofina, Actis, Temasek Holdings, Madison India Capital, PayPal, Inc., Altimeter Capital
- Series B, Dec 17, 2015, $23M — Hong Shan, Sofina
- Series A, May 15, 2014, $43M — Hong Shan
- Series B, Jun 18, 2013, $1.3M — Hong Shan
- Seed, Mar 30, 2009, $1.4M — Hong Shan, NAV.VC

## Investors

- Hong Shan — Seed, Series B, Series A
- NAV.VC (https://capitalatlas.ai/funds/nav-vc) — Seed
- Sofina — Series B, Series C, Series D
- Actis (https://capitalatlas.ai/funds/actis) — Series C, Series D
- Temasek Holdings — Series C, Series D
- Madison India Capital (https://capitalatlas.ai/funds/madison-india-capital) — Series C
- PayPal, Inc. — Series C, Series D
- Altimeter Capital (https://capitalatlas.ai/funds/altimeter-capital) — Series C
- Marshall Wace (https://capitalatlas.ai/funds/marshall-wace) — Series G
- WFM Asia — Series G
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series G
- BlackRock (https://capitalatlas.ai/funds/blackrock) — Series G
- Lone Pine Capital — Series G
- Advent Global Opportunities (https://capitalatlas.ai/funds/advent-global-opportunities) — Series G
- Ishana Capital — Series G
- Moore Strategic Ventures (https://capitalatlas.ai/funds/moore-strategic-ventures) — Series G
- Smallcap World Fund — Series G
- Duro Capital — Series G
- Lenarco Limited — Series G
- Aranda Investments Pte. Ltd — Series G
- Baron — Series G
- Alpha Wave Global (https://capitalatlas.ai/funds/alpha-wave-global) — Series L