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American funds Baron Funds and Invesco hikes Pine Labs’ valuation

IndianStartupNews

IndianStartupNews · 7m

American funds Baron Funds and Invesco hikes Pine Labs’ valuation

Pine Labs, a digital payments startup, has seen a revision in its valuation by American funds Baron Funds and Invesco. Baron Funds increased the startup's valuation to $5.8 billion, while Invesco raised it to $4.8 billion. Both funds have minor stakes in Pine Labs, with Baron Funds holding about 1.3% and Invesco owning approximately 2.8%. Despite a rise in valuation, Pine Labs faced profitability challenges, reporting increased revenue of around $195 million but also higher losses of about $28 million in fiscal year 2023. The company is focused on expansion and has been considering an IPO.

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