Pine Labs: Completes First Close of $285M Funding

Pine Labs Completes First Close of $285M Funding

• Pine Labs, a Singapore-based merchant commerce platform, completed a first close of $285m funding
• Backers included Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures and Ward Ferry Management and existing investors
• The company intends to use the funds to further scale its merchant commerce and online payments product stack
• In the round, in addition to primary proceeds, the platform enabled secondary transactions for its founder, employees and early shareholders
• The company serves prominent large, mid-sized and small merchants across Asia and the Middle East
• The company’s cloud-based platform enables it to offer a wide range of payment acceptance and merchant commerce solutions including enterprise automation systems