News > SBI invests Rs 150 crore in card machine company Pine Labs 

SBI invests Rs 150 crore in card machine company Pine Labs 

Times of India | 05/01/2022 10:04 AM | Click to read full article

SBI has invested Rs 150 crore in merchant commerce platform Pine Labs. The deal valued Pine Labs significantly higher than $3 billion - the valuation in its previous financing round.

In 2021, Pine Labs had raised $600 million from new investors and followed it up with a $100 million fund-raise from the US-based Invesco Developing Markets Fund. Pine Labs is now looking to invest in scaling Plural, its newly launched brand of online payment products.