Fintech firm Pine Labs closes $600 mn fundraise, eyes IPO in 18 months

Pine Labs, one of Asia’s leading merchant commerce platforms, has closed a $600 million fundraising round, with the entry of new investors Fidelity Management & Research Company, funds managed by BlackRock, Ishana, Tree Line, a fund advised by Neuberger Berman Investment Advisers LLC. IIFL AMC via its ‘Late-Stage Tech Fund’ and Kotak are also participating in this investment round, which is subject to approval from the Securities and Exchange Board of India (SEBI). With the current close, the valuation of the firm stands at $3 billion.

Pine Labs said it continues to be well-financed and has been EBITDA profitable for