Pine Labs claims it has an annualised gross transaction value of US$15 billion on a base of approximately 300,000 payments acceptance points

Noida-based retail point of sale (PoS) company Pine Labs has raised US$125 million in fresh funding from Temasek Holdings and global digital payments honcho PayPal.

The partnership with Temasek will help the fintech firm to scale operations in multiple geographies, including Southeast Asia.

“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. “The investments will help us move a step closer to our vision for building a world-class merchant-centric payments ecosystem.”

Also Read: 5 valuable things I learned about the angel investment and early stage funding scene in Southeast Asia

Pine Labs claims that it has an annualised gross transaction value of US$15 billion on a base of approximately 300,000 payments acceptance points. According to CEO Vicky Bindra, Pine Labs is on track to originate over US$1 billion of instant loans at point-of-sale terminals for card issuers and partner NBFCs this fiscal year.

Pine Labs has previously raised US$82 million from private equity fund Actis and California-based Altimeter Capital.

Pine labs is  provider of retail POS solutions that simplify payment acceptance, while creating business opportunities for issuers, merchants and brands to connect with consumers.

The firm is currently working with more than 70,000 retailers, ranging from large enterprises to locally-owned small businesses.

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