Pine Labs

Pine Labs

  • FOUNDING YEAR: 1998
    LOCATION:
    India
    REGION:
    Uttar Pradesh
    Last Update:
    17 Jan, 2020

Description

FOCUS

PRODUCTS & SERVICES:
Pine Labs payment solutions for acceptance of all kinds of payments @ Point of Sale (POS). Provides an efficient payment system for retailers.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Croma, Shoppers Stop, Arvind Stores, Big Bazaar, CCD, Cinepolis, Colorplus, Costa Coffee, D-Mart, Domino’s Pizza, Favourite Shop, Mahindra’s Babyoye, Haldirams and many others. 
EXISTING PARTNERSHIPS:
Payback, Amex, Axis Bank, Citi, State Bank Group, CBI, BOI, Union Bank, PNB and many more in order to allow the merchants to receive reward points as payment from the above cardholders. Tie-ups with wallet companies like Mobikwik etc., in order to integrate mobile wallets into their platform.
COMMENT
Provides innovative, robust solutions to retailers that not only help accepting digital.electronic payments, but also to get loyalty from the customers through value added features like Instant EMI, Cash Back Programs, Gift Solution, Loyalty Solution, Instant Discounts.

PEOPLE

FOUNDERS:
Tarun Upaday, Rajul Garg
NUMBER OF EMPLOYEES:
1000+
INVESTORS:
Temasek, PayPal, Actis, Altimeter, Sequoia Capital, Madison India Capital, New Atlantic Ventures, Sofina
KEY EMPLOYEES:
Vikas Bhasin (CFO); Lokvir Kapoor (CEO)

TRACTION

TRANSACTIONS VALUE:
$5.5 Billions

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$412.84 Millions
DATE OF LAST FUNDING:
Jul 2019
TOTAL FUNDING COMMENT:
The company is planning to use the fund to expand its presence in the country and further develop its product suite(May 2018).
SEED & PRIOR FUNDING:
$1 Million
SEED CLOSED ON:
Mar 2009
FUNDING SERIES:
SERIES A
$20 Millions Closed: Mar 2009
SERIES B
$82 Millions Closed: Mar 2018
SERIES C
$125 Million Closed: May 2018
Others
$184.84 Millions Closed: Jul 2019
LISTED:
NO

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