PayPal and Singapore’s Temasek invest $125M in Indian payment startup Pine Labs
Two major companies are partnering up to invest a significant amount of money in a brand-new online payment startup based out of India, and the financial world can’t stop talking about it.
PayPal, the undisputed global leader in online payment processing (based out of the United States), and Temasek, a major technology company with the full backing of the Singapore government, are both going all in on Pine Labs – a brand-new online payment processing startup based out of India.
PayPal and Temasek feel so strongly about everything that this online payment processor has to offer that they are happily contributing $125 million (combined) to help make this new technology start up a reality.
Pine Labs is calling the investment being made by these two organizations a “minority share” position, though it’s likely that the people responsible for the overwhelming majority of success at both PayPal and Temasek are going to come together to help influence the future of this new company, too.
In almost no time at all, the Pine Labs startup (founded in New Delhi) has been able to raise just over $208 million from investors around the world. In March 2018, number of venture capitalist firms invested $82 million in the company, giving it a valuation of just north of $900 million US.
With the joint investment being made by PayPal and Temasek, industry experts now expect Pine Labs to be worth just over $1 billion – pushing it into the “unicorn” position of startups that every investor around the world is looking to get in the action of.
Spokespeople from the Pine Labs startup are not releasing any comments whatsoever regarding the potential valuation of the company, and are instead only talking about how excited they are about these new partnerships and the potential that partnerships like this moving forward can have on the payment processing industry.
Pine Labs has turned the point-of-sale device payment processing world in India on its head, enjoying a significant amount of market share in this part of the world – and in one of the worlds fastest growing and truly emerging economies. It should come as no surprise to anyone that financial giants like PayPal and Temasek would want to get in on as close to the ground floor of a company like this as they could, which is why they are contributing funding to this next round of investment for Pine Labs.
Pine Labs has a unique strategy that allows them to deploy their services throughout India more effectively than traditional point-of-sale technologies. Rather than forcing retailers to utilize traditional POS devices and hardware that are so commonplace throughout India (but are slow to adapt and of all), Pine Labs instead has focused on 100% cloud-based and data back solutions that have a lot more flexibility – and much lower expenses.
This company has also been rolling out new products and new services for the entrepreneurial community in India. Combine that with the amazing data harvesting solutions that they already have, as well as an established and respected brand in one of the fastest-growing economies on the planet, and the investment by PayPal and Temasek should be seen as a no-brainer.
About the Author
Morris Edwards is a content writer at CompanyRegistrationinSingapore.com.sg, he writes different topics like Which eCommerce Payment Gateway and Why?, Launching a startup in Singapore? 4 things you need to know and all topics related to Singapore Business and Tech. More info on Company Registration in Singapore visit our website.
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