Pine Labs considering an IPO in 2022, seeks to raise $500 Million

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Pine Labs considering an IPO in 2022, seeks to raise $500 Million
11 Jan 2022
4 min read

News Synopsis

One of the leading merchant platforms, Pine Labs, is planning to move ahead with preparations for a listing in the USA and seeks to raise about $500 million. Pine Labs has secretly filed for an Initial Public Offering with the US Securities and Exchange Commission. 

The listing can lead the valuation of Pine Labs to around $5.5 billion to $7 billion. The time for the IPO is still not confirmed. The lead banks under the deal are Goldman Sachs Group Inc and Morgan Stanley. 

Pine Labs serves more than 150,000 merchants in India, the Middle East, and Southeast Asia. The company has also made several acquisitions including the consumer fintech platform, Fave, in 2021. It operates support payments for enterprise customers including Apple Inc., McDonald Corp., and Starbucks Corp.

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