India's largest bank State Bank of India to invest in Pine Labs
By MYBRANDBOOK
Leading merchant commerce platform, Pine Labs today announced a new investment of US $20M from India’s largest commercial bank, the State Bank of India (SBI).
Earlier in 2021, Pine Labs had raised a total round size of US $600M from a marquee set of new investors and followed it up with a US $100M fundraise from US-based Invesco Developing Markets Fund. In addition to augmenting its merchant commerce offerings at the offline point-of-sale, Pine Labs is now looking to invest in scaling Plural, its newly launched brand of online payment products and emerge as an omnichannel partner of choice for merchants.
Commenting on the new fund raise, B. Amrish Rau, CEO, Pine Labs, said “We are thrilled to have the largest bank of India, the State Bank of India place their trust in us and welcome them in this journey where we are empowering merchants with seamless and secure payment experiences across offline and online platforms. In the last one year, several marquee investors have placed their trust in our business model and growth momentum and that is a gratifying feeling. This association with SBI is a personally satisfying experience as I had started my career selling financial services technology to SBI.”
Pine Labs is also expanding its Buy Now Pay Later (BNPL) business across India and Southeast Asia. The company has entered the consumer payment space with its April 2021 acquisition of Fave, one of Southeast Asia’s leading consumer fintech platform, and has a leading presence in the Gift, Prepaid and Stored Value segment through its 2019 acquisition of Qwikcilver.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
TP-LINK INDIA PVT. LTD.
TECHROUTES NETWORK PRIVATE LIMITED
SAMSUNG INDIA ELECTRONICS LTD.
SECUREYE SERVICES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
SHAKTIKANTA DAS
Shaktikanta Das is serving as the current & 25th governor of the Reser...
Icons Of India : Girish Mathrubootham
Girish Mathrubootham is the Founder of Freshworks (previously known ...
Icons Of India : Dr. Sanjay Bahl
Dr. Sanjay Bahl has around four decades of experience in the ICT indus...
PARTNER SPEAKERS
PSU
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
