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