Fidelity Management and BlackRock led a $600m funding round in Pine Labs.

Fidelity Management and BlackRock led a $600m funding round in Pine Labs, a provider of financing and retail transaction technology. The round had participation from investors Ishana, Tree Line, Neuberger Berman, IIFL AMC and Kotak. “Over the last year, Pine Labs has made significant progress in its Offline to Online strategy in India and the direct-to-consumer play in Southeast Asia. Our full-stack approach to payments and merchant commerce has allowed us to grow in-month merchant partnerships by nearly 100 percent over the last year. We are excited to bring on board a marquee set of new investors in this round," Amrish Rau, Pine Labs CEO.