London’s private equity major Vitruvian Partners has invested US$50 million in IPO-bound Pine Labs.

AZB & Partners acted for Vitruvian Partners on the deal.

The team comprised of Senior Partners Srinath Dasari, Nanditha Gopal, Senior Associate Sayuktha Santosh, Associates Raina Kanungo and Sushma Reddy.

Phoenix Legal Bombay acted for Pine Labs.

The team was led by Sriram Ramachandran (Partner).

Recently, Pine Labs has acquired majority stake in payment solutions firm Mosambee, which is operated by Synergistic Financial Networks Private Limited.

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