A company called Pine Labs, earlier this month, raised an astonishing amount of money—$82 million at nearly $1 billion valuation. For a Gurugram fintech company that sells software that makes Point of Sale terminals intelligent, it seemed like a lot.
When smartphone-based payments’ growth is off the charts in India, why would investors back a company that is associated with Point of Sale (PoS) terminals? You know, those dreary-looking black-grey terminals that let you swipe a card to accept payments in a store.
It would seem like a counter-intuitive investment, but it’s not.