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IPO-bound Indian merchant payments platform Pine Labs raises USD 600 million from Fidelity, BlackRock
Pine Labs is reportedly looking at an IPO in the US within the next 18 months.
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Shift in India’s digital payment sector
PhonePe processed 1.14 billion UPI transactions worth USD 32 billion in May.
Indus OS claims to have over 400,000 local apps, catering to 100 million users in 23 regional languages.
Apis Partners invests between USD 30 million and USD 50 million in capital-efficient businesses in India, Southeast Asia, and African countries.
Amazon Pay has signed up close to five million merchants, it said last month.
MobiKwik is eyeing a valuation of USD 1 billion at its public market listing.
Google, Amazon, and Facebook’s messaging platform WhatsApp, have been making strides to position themselves among the top players in India’s fintech market.
The decade-old company has now diversified into a software-as-a-service company.
Founded in 2019, Jupiter has raised a total of USD 26 million from investors including Sequoia Capital, Matrix Partners, Beenext, 3One4 Capital, and Hummingbird Ventures.