Friday Funding: Mynd, Pine Labs, and Apna
Real Estate Platform Operator Raises $57.3 Million
Mynd, a startup which operates a platform to help real estate investors manage their investments, raised $57.3 million in venture capital led by QED Investors. Following the fundraising round, the company is valued at $807 million. Since its inception in 2016, Mynd has raised a total of $174.9 million. Invesco Real Estate led the first round and committed to buying and renting 20,000 single family houses on its platform over the course of three years.
Mynd manages more than 9,000 rentals in 25 markets throughout the US, and plans to add 15 more markets over the next three years. Proceeds from the funding round will be used to enhance its digital platform, expand into new markets, and add to its workforce.
Pine Labs Raises $100 Million in Pre-IPO Funding
Pine Labs, an Indian fintech company, raised $100 million in venture funding. Invesco led the pre-IPO round. Pine Labs is gearing up to go public next year, aiming to raise $100 million at a $6 billion valuation. This is expected to be its final capital raise before the IPO.
Hundreds of thousands of merchants use Pine Labs’ payment terminals and invoicing tools. The startup also offers working capital to merchants. What sets Pine Labs apart from other POS providers is that they are integrated with more than two dozen banks and fintechs, while most POS systems integrate with one bank. Proceeds from the funding will be used for expansion and other initiatives.
Job Search Startup Raises $100 Million
Apna, a startup which helps workers learn new skills and land new jobs, raised $100 million in venture funding. The Series C fundraising round was led by Tiger Global and values the company at $1.1 billion. Other investors included Owl Ventures, Insight Partners, Sequoia Capital India, Maverick Ventures, and GSV Ventures.
Apna was valued at $570 million in June following a Series B round. The startup has more than 16 million users on its platform, up from 10 million in June. Proceeds will go to expand into more cities in India, the US, Southeast Asia, the Middle East, and Africa.
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