Away from the spotlight, Pine Labs is handling more than Rs 4000 Cr per month in transaction volume
Payments is one of the biggest hurdles to overcome in this fast evolving space. There are many players in the field who're trying to solve the problem across the spectrum but Pine Labs is one name which has scaled tremendously but hasn't been talked about. The company has had a long journey starting in early 2000's but pivoting multiple times before finding their spot in the payments area in 2009. Pine Labs first got a funding of $1 million from Sequoia but since then the investor confidence has grown and Sequoia has put in over $20 million. Pine Labs provides Payment, Loyalty and Retail Automation systems in India and has grown to a point where it is handling over Rs 4,000 crores in transaction volume on a monthly basis. At TechSparks (see the top 30 companies of 2014), Lokvir Kapoor, the CEO of the company took centre stage to take the audience through their journey in a session moderated by Shailendra Singh, MD, Sequoia Capital:
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