Noida-based payment solutions provider Pine Labs has reportedly become India's first unicorn in 2020 with funding from US-based Mastercard. While Pine Labs confirmed the investment without disclosing the details, reports estimated the amount to be at $100-150 million (₹713-1,069 crore), taking Pine Labs' valuation to as much as $1.6 billion. It was reportedly last valued at $800 million in 2018.