Asian merchant commerce platform Pine Labs raises $100 million

Pine Labs said on Thursday it has raised an additional $100 million, just weeks after securing $600 million in a financing round, as the Asian merchant commerce platform begins to explore the public markets.

The U.S.-based investment management company Invesco Developing Markets Fund made the $100 million investment, the startup said in a statement. Pine Labs, which started its journey in India, was valued at $3 billion in its July financing round.

Pine Labs, which counts Sequoia Capital India, Temasek, PayPal and Mastercard among its early backers, offers hundreds of thousands of merchants payments terminals, invoicing tools and working capital.