Pine Labs - About the company
Pine Labs is a public company based in Noida (India), founded in 1998 by Rajul Garg, Tarun Upaday and Lokvir Kapoor. It operates as a Provider of in-store and online payment, prepaid, and financial solutions. Pine Labs has raised $1.23B in funding from investors like Peak XV Partners, Actis and PayPal. The company has 6092 active competitors, including 537 funded and 493 that have exited. Its top competitors include companies like PayPal, Stripe and Razorpay.
Sectors and market segments that Pine Labs operate in
Pine Labs serves in the FinTech market segments.The primary business model of Pine Labs is:Company Details
Provider of in-store and online payment, prepaid, and financial solutions. It offers products, solutions, and resources for developers. The company focuses on payment processing and related financial infrastructure.
- Website
- www.pinelabs.com/
- Social
- Email ID
- *****@pinelabs.com
- Phone Number
- +91 **********
Key Metrics
Founded Year
1998
Location
Noida, India
Stage
Public
Total Funding
$1.23B in 13 rounds
Latest Funding Round
Investors
Ranked
8th among 6092 active competitors
Annual Revenue
₹1,000+ Cr as on Mar 31, 2026
Employee Count
3,535 as on Jul 31, 2025
Exit Details
Public
Legal entities associated with Pine Labs
Pine Labs is associated with 5 legal entities given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
Pine Payment Solutions Sdn Bhd. CIN: 201601031792 , Malaysia, Active | May 18, 1998 | - | - | - |
PINE LABS PRIVATE LIMITED CIN: 0105562133031 , Thailand, Active | Aug 01, 2019 | - | - | |
PINE LABS DIGITAL SOLUTIONS PRIVATE LIMITED CIN: U63999DL2019FTC353020 , India, Active | Jul 25, 2019 | 0 - ₹10 Cr (As on Mar 31, 2025) | - | |
PINE LABS LIMITED UEN: 201319166R , Singapore, Deadpooled | Jul 15, 2013 | ₹1,000+ Cr (As on Mar 31, 2024) | - | |
PINE LABS LIMITED. CIN: L67100HR1998PLC113312 , India, Active | May 18, 1998 | ₹1,000+ Cr (As on Mar 31, 2026) | 4191 (As on May 01, 2026) |
Pine Labs's IPO details
Pine Labs got listed on Nov 14, 2025.
Click here to take a look at Pine Labs's IPO in detail
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Pine Labs's funding and investors
Pine Labs has raised a total funding of $1.23B over 13 rounds. Its first funding round was on 2009. Its latest funding round was a Series F round on 2022 for an undisclosed amount. 1 investor participated in its latest round. Pine Labs has 48 institutional investors and 140 angel investors.
Here is the list of recent funding rounds of Pine Labs:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
2022 | Undisclosed | Series F | - | - | - | |
Mar 04, 2022 | $50M | Series F | $5.05B | - | ||
Jan 28, 2022 | $150M | Series F | $5B | - | - |
Access funding benchmarks and valuations. Sign up today!View details of Pine Labs's funding rounds and investors
Pine Labs' founders and board of directors
Founder? Claim ProfileThe founders of Pine Labs are Rajul Garg, Tarun Upaday and Lokvir Kapoor. Amrish Rau is the CEO of Pine Labs.
Here are the details of Pine Labs' key team members:
- Rajul Garg: Former Co-Founder of Pine Labs and founder of 2 other companies, Leo Capital and Pine Labs Malaysia. They are also an angel investor in 27 startups and serve on the boards of 3 companies.Contact Info: 1 phone number
- Tarun Upaday: Former Co-Founder of Pine Labs and founder of 3 other companies, GlobalLogic, hCentive and Routespring. Contact Info: 1 email address
- Lokvir Kapoor: Co-Founder of Pine Labs and founder of 1 other company.
- Amrish Rau: Former Co-Founder of Pine Labs. They are also an angel investor in 48 startups.Contact Info: 1 email address and 1 phone number
Pine Labs' Board of Directors
Pine Labs's board has 2 active members. Sumit Chopra is part of team and Tanya Mohan Naik is independent board member.Here is the list of Pine Labs' board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 4y 8m | |
Independent board member | - | Current | 1y 3m |
View details of Pine Labs's Founder profiles and Board Members
Pine Labs' employee count trend
Pine Labs has 3,535 employees as of Jul 25. The total employee count is 7.0% more than what it was in Jul 24. Here is Pine Labs's employee count trend over the years:
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Pine Labs's Competitors and alternates
Top competitors of Pine Labs include PayPal, Stripe and Razorpay. Here is the list of Top 10 competitors of Pine Labs, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st |  PayPal 1998, United States, Public | Provider of online payment solutions, money transfers, and virtual wallets | $216M | 87/100 | |
2nd | Stripe 2010, San Francisco (United States), Series I | Provider of financial infrastructure solutions for revenue growth and payment processing | $9.81B | 86/100 | |
3rd | Provider of payment and business banking solutions for enterprises | $742M | 85/100 | ||
4th |  Flutterwave 2016, San Francisco (United States), Series E | Provider of payment solutions for online and physical business transactions | $489M | 83/100 | |
5th | Online payment and money transfer platform for businesses | $554M | 83/100 | ||
6th | Airwallex 2015, San Francisco (United States), Series H | Provider of financial infrastructure for processing payments and managing treasury | $1.9B | 83/100 | |
7th | Adyen 2006, Amsterdam (Netherlands), Public | Provider of end-to-end payment, data, and financial management platform solutions | $266M | 81/100 | |
8th | Provider of in-store and online payment, prepaid, and financial solutions | $1.23B | 81/100 | ||
9th |  GoCardless 2011, London (United Kingdom), Acquired | Provider of automated bank payment collection and recurring billing services | $540M | 80/100 | |
10th | PayU 2002, Amsterdam (Netherlands), Funding Raised | Provider of online payment solutions and financial services for businesses | - | 79/100 |
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Pine Labs's Latest cap tables and shareholding
Founders own 2.34%, Funds (largest shareholder) own 66.35%, Enterprises own 19.98% and Angels own 0.13%. The net worth of Pine Labs's founders is INR 118M as of Mar 04, 2022.
Shareholders Name | Post Round Holding % | Net worth | Cumulative Investment | Realised Returns | Unrealised Returns | Return Multiple |
|---|---|---|---|---|---|---|
Founder | 2.34% | 118M | 58 | 26 | 88 | 11 |
Fund | 66.35% | 3.35B | 4427570 | 5470220 | 2350644 | 9083807 |
1066212 | 2666394 | 9219612 | 1365824 | 6392680 | 5584547 | |
1388533 | 7787624 | 7849223 | 9841413 | 4399359 | 8281032 | |
8594818 | 2497298 | 5375770 | 5747994 | 9673044 | 7951525 | |
521 | 392 | 685 | 156 | 287 | 523 | |
90 | 85 | 13 | 88 | 32 | 67 | |
3 | 2 | 8 | 5 | 5 | 4 | |
1 | 4 | 6 | 3 | 8 | 5 | |
6 | 8 | 4 | 6 | 5 | 7 | |
1 | 2 | 5 | 7 | 4 | 8 | |
6 | 3 | 5 | 3 | 6 | 8 | |
0 | 0 | 0 | 0 | 0 | 0 | |
0 | 0 | 0 | 0 | 0 | 0 | |
0 | 0 | 0 | 0 | 0 | 0 | |
0 | 0 | 0 | 0 | 0 | 0 | |
0 | 0 | 0 | 0 | 0 | 0 | |
Enterprise | 19.98% | 1.01B | 5399297 | 5315748 | 8059764 | 9942064 |
Angel | 0.13% | 6.46M | 0 | 0 | 0 | 0 |
0 | 0 | 0 | 0 | 0 | 0 | |
Other People | 3.81% | 193M | 619 | 287 | 366 | 786 |
ESOP Pool | 7.39% | 373M | 5516431 | 9650468 | 1804467 | 9286910 |
Total | 100.00% | 505Cr | 5769760 | 3213122 | 2252255 | 7929343 |
To unlock detailed Cap Table of Pine Labs Sign up today!Notes: The column Net Worth represents the net worth of investments made by that entity, as per the latest cap table.
DisclaimerView more details of Pine Labs's Shareholding
Pine Labs's Investments and acquisitions
Pine Labs has made 2 investments in companies including NPCI and Fave. Pine Labs has also acquired 8 companies including Shopflo and Saluto.Here is the list of investments & acquisitions:Filter this list
Filter this listDate of Investment/Acquisition | Type | Company Name | Founded Year | Location |
|---|---|---|---|---|
Apr 25, 2026 | Acquisition | 2021 | Bengaluru (India) | |
Jan 23, 2023 | Acquisition | 2017 | Bengaluru (India) | |
Jun 23, 2022 | Acquisition | 2018 | Bengaluru (India) |
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Reports related to Pine Labs
Here is the latest report on Pine Labs:
News related to Pine Labs
Filter this listMedia has covered Pine Labs for a total of 80 events in the last 1 year, 27 of them have been about company updates and 11 about partnerships.
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Pine Labs Extends Technology Partnership with Woolworths Group for Gift Card ProgramsRetail Technology Innovation Hub•Sep 30, 2026•Woolworths, Pine Labs, Woolworths Group
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Pine Labs Rolls Out Digital Payment Soundboxes in Rural India to Enhance TransactionsFintechinshorts•Sep 25, 2026•Pine Labs
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Pine Labs partners with Google to deploy Gemini AI agents for Indian merchantsThe Tribune•Sep 24, 2026•Pine Labs, Google Cloud, PINE
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Accenture and Google Cloud Expand Horizon Automotive Software Platform with Volvo Cars as Lead Industry PartnerEuropaWire•Sep 22, 2026•Volvo Cars, Accenture, Google Cloud, Google and 1 other
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Mastercard Asia-Pacific to Sell Entire 4.31% Stake in Pine Labs for Nearly Rs 890 CroreMoneycontrol•Sep 21, 2026•Mastercard, Pine Labs
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L&T Finance Partners with Pine Labs to Enable Agentic Commerce on PLANET AppExpress Computer•Sep 09, 2026•Pine Labs, Vanguard
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Pine Labs Appoints Jayaram Karthik as Chief Operations OfficerViestories•Sep 02, 2026•Pine Labs, Razorpay
•
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