Pine Labs raises US$285M
The story: Pine Labs has raised US$285 million in fresh funding after just five months of its previous fundraise.
Investors: Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures, Ward Ferry Management, Temasek, Lone Pine Capital, and Sunley House Capital.
How the funding will be used: Expansion of its current offerings and to scale its online payments gateway.
About Pine Labs: Incorporated in Singapore, the India-based company serves large, mid-sized, and small merchants across Asia and the Middle East as a payments platform.
Its technology platform enables offline and online last-mile retail transactions, provides customer insights to merchants for targeted sales, and offers risk-managed financial solutions for merchants’ business growth.
Moglix raises US$120M Series E
The story: Singapore-headquartered Moglix has raised US$120 million in a Series E funding round. The company is now valued at US$1 billion.
Investors: Falcon Edge Capital, Harvard Management Company (HMC), Tiger Global, Sequoia Capital India, and Venture Highway.
About Moglix: Moglix is a B2B commerce company that is inclined towards the procurement of industrial essentials like electrical and lighting, cleaning and laundry supplies, office supplies, tools, and many more.
More about the story: The company was founded in 2015, by IIT (Indian Institute of Technology) Kanpur and ISB (Indian School of Business) alumnus Rahul Garg.
It provides solutions to more than 500,000 SMEs and 3,000 manufacturing plants across India, Singapore, the UK, and the UAE.
gojek to launch car-hailing, e-payments services in Vietnam
The story: Ride-hailing giant gojek will add car-hailing and e-payments to its operations in Vietnam, one of the key markets in the Indonesian startup’s battle with Singaporean rival Grab.
More about the story: “Vietnamese customers can currently use Gojek to hail motorbike rides, order food, and ship parcels, but will be able to request car rides and pay digitally very, very soon,” Phung Tuan Duc, country manager of Gojek, said.
Image Credit: Pine Labs
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