Point-of-sales (PoS) services provider Pine Labs has raised a new round of funding from the global card network major Mastercard .

While transaction details were not disclosed, the new round is pegged at $100-150 million (Rs 713-1,069 crore).

This will make the Sequoia-backed Pine Labs the first Indian unicorn in 2020 with a valuation of $1.5-1.6 billion, said one of the sources briefed on the deal.In a prepared statement, Pine Labs said it will work with Mastercard to deliver a range of card and real-time payments-based instalment financing at checkout — both in-store and online.

It already offers working capital loans and the company also set up a unit called Pine Labs Finance earlier last year.

Prior to this, Pine Labs had raised over $200 million (Rs 1,426 crore) from US payments giant PayPal, besides financial investors like Temasek, Actis and Altimeter Capital. | To read full story, visit https://startuparound.com/read/1579988260.2252123/Mastercard’s-swipe-makes-Pine-Labs-1st-unicorn-in-2020?ref=audio_experience