Asian merchant commerce giant Pine Labs gets $600 million


Pine Labs said on Tuesday it’s anything but a $600 million financing round as the Asian merchant commerce platform defines the objective to investigate the public markets within two years.

Fidelity Management and Research Company, BlackRock, Ishana, as well as a fund prompted by Neuberger Berman Investment Advisers, and IIFL and Kotak invested in the round, which esteems the startup at $3 billion. Pine Labs divulged the new round, a name of which it hasn’t uncovered, recently.

Pine Labs, which counts Sequoia Capital India, Temasek, PayPal and Mastercard among its early sponsor, offers a huge number of dealers payments terminals, invoicing devices and working capital.

Its payments terminal — otherwise called point-of-sale machines — are associated with the cloud, and offer a scope of extra services like working capital — to the dealers. Pine Labs’ payments terminal has reconciliation with more than two dozen banks and monetary…

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