Sequoia-backed Pine Labs raises $125 mn from Temasek and PayPal

This is the second fund-raising for the company in this calendar year after it raised $82 million in an earlier investment round

Payment acceptance solutions provider Pine Labs announced on Thursday that it has sold a minority stake in the country to Singapore-based investment company Temasek and global payments provider PayPal for $125 million. 

Pine Labs said that its investment comes at a time when the company is looking to pivot from its leadership position in the offline payments space by expanding to online payments as well. 

“We’re teaming up with Temasek and PayPal at a time when the Indian payments market is at an inflexion point,” said Lokvir Kapoor, Founder of Pine Labs. “We are a leader in the offline payments