Pine Labs revenue jumps 37% to ₹1280 Cr, losses widen 2.5X in FY23

Fintech unicorn Pine Labs reported a 37% jump in operating revenue to Rs 1,280 crore in FY23. The losses ballooned from Rs 22.6 crore in FY22 to Rs 56 crore. The PoS machine provider derives its major revenue from digital payments, including transaction processing fees, aggregator services to merchants, POS installation and programme integration fees, and BNPL services.