![]() Clinical target volume (CTV) denotes the demonstrated tumour (when present) and also volumes with suspected (subclinical) tumour considered to need treatment (e.g. Gross tumour volume (GTV) denotes the demonstrated tumour. The startup posted a net revenue of Rs 800 crore in FY21, according to company estimates shared with ET in July.Schematic illustration of the different volumes as defined in ICRU Report 50 (1993). The startup is issuing around 8 million prepaid cards through this platform focused on corporate offerings, gift vouchers and refunds.ĮT was the first to report earlier this year that the firm, in a tie-up with Axis Bank, ICICI Bank, Amazon, BillDesk and Visa, is part of aĬonsortium vying for a New Umbrella Entity (NUE) licence from Reserve Bank of India to set up a pan-India retail payments network. The fifth focus area for Pine Labs is the issuance of prepaid cards through its wholly owned entity Qwickcilver. The firm is also expanding its presence in South Asian markets through its recent acquisition of Kuala Lumpur-based fintech Fave. Pine Labs is said to be processing annualised gross transaction value (GTV) of $1 billion through these stickers – both in physical and digital forms. ![]() ![]() The third focus point is QR-based solutions. This means that Pine Labs is also building its payment gateway services that’ll allow merchants to also digitise their delivery and ledger services. The second area of focus is to bring its offline tech and payments capabilities for small merchants to online channels as well. The first is to further scale its software commerce stack which allows merchants to automate payment and billing services at storefronts. The Noida-based firm, the third most valued fintech in India behind Paytm and PhonePe, is learnt to be focusing on five areas of growth in FY22, ahead of going public. The startup has been diversifying its offerings on its newly developed software platform with enterprise solutions such asīuy Now Pay Later (BNPL) integrations, invoice management, payment gateway as well as prepaid card issuance. Pine Labs predominantly specialises in developing software and deployment solutions for Point of Sale (POS) devices for storefronts. Rau had indicated that the firm was eyeing a US-listing in the next 18 months as it set sights on scaling its reach in both Indian and South Asian markets such as Singapore, Indonesia and Malaysia. In an earlier interview with ET in July at the time of closing its round, Temasek, Sequoia Capital, Actis, PayPal and Mastercard are among its existing investors. In its previous funding round, Pine Labs onboarded investors like Fidelity Management as well as funds like BlackRock, Ishana, Tree Line, IIFL AMC’s late-stage tech fund. Goldman Sachs declined to comment.Įntrackr earlier this week reported, citing regulatory documents, that the firm’s Singapore-based parent entity hadĬonverted into a public firm in preparation for its IPO. Pine Labs CEO Amrish Rau and Morgan Stanley did not respond to emails. Late last month, Prosus, earlier known as Naspers, acquired digital payments processor BillDesk in a $4.7 billion all-cash deal. Risk investors, both global and domestic, have flocked to the sector in India amid regulatory constraints in investing in China. Mobikwik have also filed their draft prospectuses to go public on domestic exchanges later this year. The latest development comes at a time when digital payments continue to witness steady growth in India, fuelled by the Covid-19 pandemic.
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