How Pine Labs Became a Leader in the Indian Payments Industry
When it comes to payment solutions, Pine Labs is one of the leading providers in the world. But it didn’t start that way. In this startup story, we will take a look at Pine Labs’ entrepreneurial journey from startup to a global provider of payment solutions.
We will explore how they became a market leader and what strategies they used to achieve success and how this company became so successful.
A Success Story in India’s Fintech Industry
In early 1998, there was a growing need for payment solutions in India. This led to the creation of Pine Labs, a company that would go on to become a leading provider of payment solutions in the country.
Over the years, the company has grown into one of India’s most successful businesses, and today it helps millions of people pay for goods and services using their debit or credit cards. How did Pine Labs achieve such success? Let’s take a look!
Pine Labs Founders
Founded by 3 friends (Lokvir Kapoor, Rajul Garg, and Tarun Upadhyay) who had a shared passion for technology and entrepreneurship, Pine Labs began as a small startup with big ambitions.
Lokvir Kapoor is the Executive Chairman and Co-Founder. He did his BTech in Mechanical Engineering from IIT Kanpur.
He did MBA from IIM Bangalore. Before co-founding merchant platform in 1998, Lokvir Kapoor previously worked with Schlumberger in the areas of financial management and business development in India and abroad.
Done B.Tech in Computer Science from IIT Delhi, co-founder of Pine Labs. Garg is a managing partner and the co-founder of Leo Capital Holdings,
He has also served as the company’s CEO for over 5 years. Leaving the company, Rajul co-founded GlobalLogic. After this, Rajul became an angel investor and consultant for a long time. Rajul also founded Sunstone Eduversity.
Co-founder and CTO at Pine Labs. Tarun has an integrated MSc. in Computer Application from IIT Delhi. Upadhyay has a streak of co-founding companies including Gallop.ai, hCentive, and GlobalLogic. Tarun served as co-founder and CTO at hCentive, and GlobalLogic. Tarun was appointed as CEO at Gallop.ai.
Pine Labs Growth
Pine Labs Founders started with a simple idea: to make it easier for merchants to accept card payments.
Today, this merchant platform is a leading provider of payment solutions in India and Southeast Asia, serving over 100,000 merchants across the region.
Pine Labs’ success can be attributed to its focus on providing an end-to-end solution for merchants, from point-of-sale terminals to online payment gateway and merchant acquiring.
How Blinkit, an Ex-Grofers Unit, Became a Successful Grocery Delivery Startup
The startup has also forged partnerships with leading banks and financial institutions in the region to provide its merchants with access to working capital and other financial services.
Looking ahead, This merchant platform is well-positioned to continue its growth trajectory and emerge as a leading player in the global payments landscape.
Pine Labs Entrepreneurial Journey
Pine Labs started by providing point-of-sale (POS) terminals to small businesses in India. This allowed these businesses to accept credit and debit card payments from their customers.
The company then expanded its offerings to include a mobile app that allows users to pay for goods and services using their smartphones.
The fintech startup has also partnered with major banks and financial institutions in India, which has helped it grow its customer base even further.
How GoMechanic, Car Repair Company Tripled Their Business in Just 5 Years
Today, the fintech startup has become one of the most popular payment solutions providers in India because it provides customers with an easy way to pay for goods and services on their debit or credit cards.
The company’s success is a testament to the power of technology and entrepreneurship, and it is an inspiring story for other startups that are looking to make a difference in the world. We hope you enjoyed this Pine Labs success story.
How Four Ex-Flipkart Employees Built Groww, an Online Investment Platform
|Are you an
Entrepreneur or Startup?
Do you have a Success Story to Share?
SugerMint would like to share your success story.
We cover entrepreneur Stories, Startup News, Women entrepreneur stories, and Startup stories
Pine Labs is a perfect example of what’s possible when you have a great product and a team of passionate people working to make it a success. This is the Pine Labs success story. Let us help you achieve your dreams! Thanks for reading!