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Pine Labs information


Pine Labs Pvt. Ltd.
IndustryFintech
Founded1998; 26 years ago (1998)
FounderLokvir Kapoor
Rajul Garg
Headquarters
Noida, Uttar Pradesh
,
India
Area served
India, Middle East, Southeast Asia
Key people
Lokvir Kapoor (Executive chairman)
B.Amrish Rau (CEO)
ProductsmyPlutus app, Plutus Smart, Pine Labs Genie,[1] Plural
RevenueIncrease 1,588 crore (US$200 million) (FY23)[2]
Net income
Increase −227 crore (US$−28 million) (FY23)[2]
SubsidiariesQwikcilver Solutions Pvt Ltd.
Websitepinelabs.com

Pine Labs is an Indian company that provides point of sales systems and payment systems, founded in 1998. The company has a valuation of over US$5 billion.[3]

The company makes Android-based point of sale (PoS) machines.[4] and has more than 70,000 retailers across India, including well-known retail outlets such as Spencer's Retail, Pantaloons, Shoppers Stop, and Westside.[5] It also has a presence in other countries, primarily in Asia, such as India and Malaysia.[6]

Some of its notable investors include LonePine, PayPal, Temasek Holdings, Actis Capital, Altimeter Capital, Sofina, and Sequoia Capital.

  1. ^ Pine Labs Genie
  2. ^ a b "Pine Labs logs revenue of Rs 1,600 crore, trims losses in FY23". Financial Express. 30 December 2023. Retrieved 30 December 2023.
  3. ^ Upadhaya, Harsh (18 February 2022). "Pine Labs raises $150 Mn from Alpha Wave at $5 Bn valuation". entrackr.com.
  4. ^ https://www.livemint.com/companies/news/pine-labs-plans-to-deploy-1-5-lakh-android-pos-devices-by-next-fiscal-11582462971021.html
  5. ^ Gooptu, Biswarup; Bhakta, Pratik (28 August 2017). "Season may be right for Sequoia to exit Pine Labs". The Economic Times.
  6. ^ Cite error: The named reference cnbctv18 was invoked but never defined (see the help page).

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