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Kenro looks to buy up to $40 mn stake in Pine Labs
Mint New Delhi
|July 28, 2025
Kenro Capital, which specializes in purchasing stakes from existing investors, is evaluating a $30-40 million investment in Pine Labs as the fintech giant's early backers look to exit in part or in full ahead of its listing later this year, two people familiar with the matter.
"The investment firm has been speaking to some of Pine Labs' early backers to pick up a stake as the partners understand the company very well," one of the two people cited above said, requesting anonymity. The company fits well within their thesis of investing in those that have a clear visibility for an IPO, the person said.
Pine Labs was last valued at $5.05 billion when it raised about $50 million from Vitruvian Partners in 2022. It competes with Paytm and Walmart's PhonePe.
Cette histoire est tirée de l'édition July 28, 2025 de Mint New Delhi.
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