Pine Labs raises $150 mn from Alpha Wave, takes total to $870 mn in 7 mths

Valuation not disclosed, though one report put the figure at $5 bn

Fintech company Pine Labs said on Friday that it has raised $150 million from Alpha Wave Global, bringing its total fundraise in the last seven months to around $870 million. The company declined to reveal the valuation at which it has raised the money. 

However, an ET report said that the funding round was done at a valuation of more than $5 billion. The company said earlier that it plans to go for an IPO this year or early next year.

“Alpha Wave Venture has invested $150 million in Pine Labs. We are happy to bring a marquee investor on