Pine Labs makes majority investment in payment solution provider Mosambee

Merchant commerce platform Pine Labs said that it has made a significant majority investment in Mosambee, a fast-growing end-to-end payment solution provider in India. This investment by Pine Labs will now value Mosambee at upwards of  $100 million.

“At Pine Labs, we continue to focus on deep technology and SaaS," said Amrish Rau, CEO, Pine Labs. "Ever since its founding, Mosambee has made tremendous inroads into elevating the merchant experience through cutting-edge fintech solutions. They were a natural fit for us due to our shared purpose of making innovative fintech products accessible to all and driving forward the digital payment revolution in India."

The leadership team at Mosambee will continue to operate independently. This includes using its proprietary tech platform that has served well to the needs of their clients across diverse industry verticals.

“Pine Labs was our first partner when we launched our platform. Mosambee today caters to a wide array of businesses, from SMEs to private and government entities to leading banking institutions in India," said Sameer Chugh, Co-founder of Mosambee.

"With the extensive reach of Pine Labs and their portfolio companies, we aim to continue to deliver strong profitability and breakthrough solutions to our clients."

As of March 2022, Pine Labs has more than 250,000 merchant relationships across over 675,000 merchant network touchpoints in India and Southeast Asia. With more than 25 issuers on its platform at present, Pine Labs has a market leading presence in the offline Pay Later segment in India. 

In February 2022, Mosambee had announced the acquisition of Benow, a digital payments and EMI technology platform. Pine Labs is also scaling its Pay Later proposition to newer markets outside India. It recently announced the ‘Mastercard Installments with Pine Labs’ program in association with Mastercard and DBS Bank to enable interest-free installment purchase options to the two million DBS Bank cardholders in Singapore, Indonesia, and Hong Kong SAR.

With more than 80 business utility apps available on their integrated PoS app ecosystem, Pine Labs said its merchants can efficiently manage multiple aspects of their in-store operations such as invoicing, inventory management, and GST compliance with ease. The firm said its ability to distribute commerce products at scale, its continuous focus on improving the payment checkout experience, and emergence as the ‘omnichannel partner of choice’ for merchants is set to benefit the young and dynamic team at Mosambee.