Pine Labs Completes A First Close Of $285M Funding From New Cross-Over Investors

Pine Labs, one of Asia’s leading merchant commerce platforms, today announced that it has completed a new round of financing from well-regarded public market cross-over investors including Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures and Ward Ferry Management. Existing investors Temasek, Lone Pine Capital and Sunley House Capital also participated in this funding round. In this significantly oversubscribed round, in addition to primary proceeds, Pine Labs enabled secondary transactions for its founder, employees and early shareholders as it is already a well-financed company with a strong balance sheet and has been EBITDA profitable for several years.