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Startup Atlas · Fintech

Pine Labs ListedUnicorn

Pine Labs Limited Noida, Uttar Pradesh Founded 1998 pinelabs.com ↗
Lokvir Kapoor · Co-founder & Executive Chairman Rajul Garg · Co-founder
$1.04 BnTotal funding (tracked)
10Funding rounds
7 Nov 2025Last round

Pine Labs: Business Model Canvas

The nine-block Business Model Canvas, filled in only where a public source states it — empty blocks mean we haven't found a citable fact yet, not that the answer is zero.

Value Propositions

Digital funnel between merchants and banks

Pine Labs acts as a digital funnel between the merchant and the banks, enabling merchants to consolidate multiple acquirers on to a single platform which is integrated within their billing software.

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Customer Segments

Merchants9.2 Lakh merchants

9.2 Lakh merchants... using its products; examples cited include DMart, Lifestyle, Samsung, Flipkart

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Consumer brands666 consumer brands

666 consumer brands using Pine Labs' products

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Financial institutions164 financial institutions

164 financial institutions using its products; examples cited include SBI Payments, ICICI Bank, American Express

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Customer Relationships

No cited public information yet.

Channels

Point-of-sale (POS) devices

For every payment made via its point-of-sale (POS) devices, the business charges a transaction fee.

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Payment gateway

Transaction fees of 1% to 3% based on the merchant's pricing strategy, plus setup and annual maintenance fees.

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Product suite

POS Machine, Payment Gateway, Prepaid, Credit & Fintech Infrastructure.

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Key Activities

No cited public information yet.

Key Resources

No cited public information yet.

Key Partnerships

Mastercard

Mastercard and Pine Labs partnered to expand a "pay later" instalment solution to five Southeast Asian markets in early 2021.

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Revenue Streams

Digital Infrastructure & Transaction Platform70.6% of revenue (9M FY25)

In-store payments earn subscription fees based on the number of devices; online payments earn a fee from merchants calculated based on the value of transactions.

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Issuing & Acquiring Platform29.4% of revenue (9M FY25)

Pine Labs primarily earns processing fees based on GTV (gross transaction value) processed or distributed through its platform.

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Cost Structure

No cited public information yet.

FAQs on Pine Labs

What is Pine Labs's business model?

Pine Labs's core value proposition centers on Digital funnel between merchants and banks.

How does Pine Labs make money?

Pine Labs's cited revenue streams include Digital Infrastructure & Transaction Platform, Issuing & Acquiring Platform.

Sources & corrections. Every fact on this page is compiled from cited public sources — follow the “source” links beside each entry. Profile sources: www.pymnts.com en.wikipedia.org · Last verified 15 Jul 2026. · Report a correction