Pine Labs

paymentspos/mobile pos

FOUNDING YEAR: 1998
LOCATION: India
Last Update: 17/07/2020

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MEDICI Analysis

Pine labs is a provider of retail POS (Point of sale) solutions

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

Charges retailers for using their service. It earns 70% it's of revenue from core payments and 30% through value added services.

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.

Traction

TRANSACTIONS VALUE:

$5.5 B

People

FOUNDERS

Tarun Upaday

Rajul Garg

NUMBER OF EMPLOYEES

1000+

INVESTORS:

Actis

Altimeter

Flipkart

Madison India Capital

Mastercard

New Atlantic Ventures

PayPal

PayPal Ventures

Sequoia Capital

Sequoia Capital India

Sofina

Temasek

Temasek Holdings

KEY EMPLOYEES:

Vikas Bhasin (CFO); Lokvir Kapoor (CEO)

Momentum

FUNDED

YES

TOTAL FUNDING

$412.84 M

DATE OF LAST FUNDING

Jan 2020

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 M

SEED CLOSED ON

Mar 2009

FUNDING SERIES

SERIES A  · $20 M  · Mar 2009

SERIES B  · $82 M  · Mar 2018

SERIES C  · $125 M  · May 2018

OTHERS  · $184.84 M · Jul 2019

SECONDARY MARKET  · $125 M · ---

LISTED

NO

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