Merchant commerce platform Pine Labs has picked a majority stake in payments solution provider Mosambee.
With the investment by Pine Labs, Mosambee is valued at around $100 million. Following the transaction, the leadership team at Mosambee will continue to operate independently.
Mosambee offers merchant payment solutions for online as well as offline merchants including mobile point of sale (mPoS) system as well as a wallets payment system. It has clients in India and six other countries.
The investment comes at a time when Pine Labs is gearing up for its public listing in the US and has been raising funds. The company had recently raised $50 million from London-based private equity major Vitruvian Partners at over $5 billion valuation.
Last year, Pine Labs acquired Singapore-based loyalty payments startup Fave, In 2022, it acquired Qfix for an undisclosed sum.
