Pine Labs has raised $75-$100 million led by US-based billionaire Stephen Mandel’s hedge fund Lone Pine Capital, valuing the Noida-based merchant-commerce startup at more than $2 billion. This makes Pine Labs the third-most valued fintech company in India behind Paytm and PhonePe. The fund infusion is through a mix of primary as well as secondary share of sales by investors, one person aware of the details said.The round was predominantly led by Lone Pine, the US-based hedge fund’s first investment in India, which has over the last year been making big money deals in payment and credit-focused fintech firms across the world.

(Economic Times)