Global payment majors PayPal and Mastercard gain big post Pine Labs IPO

Pine Labs’ private market journey had two very large payment companies grabbing a slice of its capitalisation table: American digital payments major PayPal and global card payment processor Mastercard. While they are not large fintech investors in India, both companies took positions in Pine Labs, betting on the larger domestic digital payments journey.

While Mastercard has doubled the value of its investments in six years, PayPal, which joined Pine Labs as an investor in 2019, is sitting on almost seven times returns.

Neither company has sold its…