Pinelabs gets $100 million from Invesco

Pine Labs, one of Asia’s leading merchant commerce platforms, has received a new investment round in the company with the entry of Invesco, a Us-based investment management company. Invesco Developing Markets Fund has invested $100 million in Pine Labs.

In July, the company had raised $600 million and brought in a marquee set of new investors, which took its valuation to $3 billion. Pine Labs is backed by Sequoia Capital, Temasek Holdings, Actis, Paypal, and Mastercard. “Over the past 18 months, we have scaled our prepaid issuing stack, online payments, and also the buy now pay later offering,” said B. Amrish Rau, chief executive, Pine Labs.