Pine Labs raises ₹707 crore from Singapore-based parent firm

Noida-based digital payments platform Pine Labs has raised about ₹707 crore from its Singapore-based parent firm, as per regulatory filings. Pine Labs revealed the funding will be used for completion of the acquisition of Bengaluru-based gift cards-providing startup Qwikcilver Solutions. Pine Labs had announced in March that it will acquire Qwikcilver for about $110 million (around ₹760 crore).