In today’s briefing:
- Pinelabs IPO Review – Another Fintech IPO Exactly 4yrs After Paytm – Can It Buck the Trend?
Pinelabs IPO Review – Another Fintech IPO Exactly 4yrs After Paytm – Can It Buck the Trend?
- Pine Labs is a fintech company supporting digitization of commerce through digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions.
- While the company has been growing in line with peers, its focus on enterprise customers and subscription pricing stands out, while peers have focused on merchants with a %-fee model.
- IPO priced at sharp discount to expectations ($2.5bn vs $6bn), which is fair given changing business/industry dynamics. Pending RBI investigation and potential selling from early investors are other near-term concerns.
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