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Indian merchant payment startup Pine Labs raises $50m

Company to expand global footprint while delaying IPO

Pine Labs' cloud-based platform enables it to offer a wide range of payment acceptance and merchant commerce solutions. (Screenshot from Pine Labs YouTube page)

NEW DELHI -- Indian merchant commerce company Pine Labs announced on Wednesday that it has secured $50 million from London-based investment company Vitruvian Partners.

The startup had earlier received $150 million from New York-based Alpha Wave Global in primary and secondary investments in February.

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