Sequoia’s Pine Labs Said to Seek Funding at $1 Billion Valuation

Pine Labs Pvt, the Indian payment and loyalty services provider controlled by Sequoia Capital, plans to seek a new round of funding at a valuation of about $1 billion, people with knowledge of the matter said.

Investors may be offered as much as a $250 million stake in the company, including existing shares being sold by Sequoia, according to the people. Pine Labs aims to raise about $100 million in fresh capital from the deal, one person said, asking not to be identified as the matter is private.