New Delhi: Pine Labs, Asia Digital Payment Provider is supported by Sequoia India and MasterCard, moving forward with preparation for the US listing and strive to increase around $ 500 million, according to people who are familiar with problems.
The company has submitted secrets with the US Securities and Exchange Commission for IPO (IPO) in New York as fast as in the first semester of this year, said people.
A list that can provide a valuation Pine Labs around $ 5.5 billion to $ 7 billion, they said, asking not to be identified due to personal problems.
Goldman Sachs Group and Morgan Stanley are banks leading the deal, said people.
Medium taking progress and details such as size and time can still change, said people.
A representative for Singapore-based Pine Labs did not respond to a comment request, while representatives for Goldman Sachs and Morgan Stanley refused to comment.
Bloomberg News reported in August which Pine Labs is considering the IPO in 2022.
Led by CEO of Amrish Rau, the company in July raised around $ 600 million from investors including Fidelity Management & Research Co.
and Blackrock, according to a statement.
The company said it targeted public offering within 18 months and had benefited operations for several years – rarely among Indian Fintechs new plants.
Startup, which offers solutions for stores and online and prepaid payments, loyalty and “pay later” program, worth $ 3 billion, Rau said at that time.
The agreement was followed by an additional $ 100 million funds from Investco developing the Fund market.
It is also an important Temasek Holdings Pte, Paypal Holdings and Actis Capital of other investors.
The State Bank of India invested $ 20 million at startup earlier this month.
Pine Labs serves more than 150,000 traders in India, the Middle East and Southeast Asia.
The company has developed both organically and through acquisitions including a Fintech fave consumer platform last year.
Payment of Digital Gateway Commerce Platform, the main business activities in India, payment of support for company customers including Apple, McDonald and Starbucks.