Pine Labs Announces New Investment from Lone Pine Capital
Summary
“Small businesses and consumers are fast adopting to digital commerce and contactless checkout. It’s time to invest heavily in offline and online commerce across India and SEA.” “We are excited to partner with Pine Labs as they innovate at scale in the payments and merchant commerce space, benefiting consumers, merchants and financial institutions,” said Mala Gaonkar, Portfolio Manager and Managing Director at Lone Pine. Earlier in December, Pine Labs and Mastercard jointly announced that they will expand their integrated “pay later” solution to five South East Asian markets early next year. Today, Pine Labs serves more than 150,000 merchants in 3,700 cities across Asia and the Middle East. Together, the companies now provide cashless payment solutions to over 50,000 merchants across Malaysia, Singapore and other South East Asian countries.
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