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
