The PoS terminal company built a strong, profitable business over more than a decade, and has now remade itself in search of a public listing.
A card payments processor more than two decades old is soon approaching the public markets as a sprightly fintech startup.
Pine Labs could very well be the first Indian fintech company to list abroad. After taking over in March 2020, the company’s chief executive officer Amrish Rau has been on a war footing to restructure the management team and raise capital. A little over three weeks ago, he announced the close of a $600 million fundraise, from asset managers and funds such as Fidelity and BlackRock, as well as existing investors like Sequoia Capital, Temasek and Mastercard.
The round valued …
Advait is a financial journalist and a former writer at The Morning Context. Here, he wrote on India’s banks, the wider financial services industry and the fintech ecosystem. He has previously worked with the Economic and Political Weekly, Business Standard, BloombergQuint and MediaNama, where he covered everything from the Reserve Bank of India to fintech policy.
Writer
advait@mailtmc.com
Mumbai