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Pine Labs' valuation tops $2 bn on closing funding from Lone Pine Capital

Funding makes it country's most valued fintech after Paytm and PhonePe. Pine Labs silent on deal size, industry sources put it at $75-100 million

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Pine Labs is also seeing tremendous uptake in Pay Later services and has now enabled nearly 150,000 outlets for this | Illustration: Ajay Mohanty

Peerzada Abrar Bengaluru
Unicorn fintech company Pine Labs has raised an undisclosed funding round led by billionaire hedge fund manager Stephen Mandel-founded Lone Pine Capital, taking the valuation of the Noida-based firm to over $2 billion. This makes it the most valued fintech company in the country after Paytm and Walmart-owned PhonePe. The firm did not reveal the amount it has raised from Lone Pine, but according to industry sources, the funding is about $75-100 million. US-based Lone Pine’s investment follows the strategic investment made by Mastercard in January 2020, when Pine Labs attained unicorn status or $1 billion valuation.

“We are thrilled

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First Published: Dec 21 2020 | 5:35 PM IST

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