Fintech platform Pine Labs has acquired a 100% stake in checkout optimization platform Shopflo. In an exchange filing, the company said that it has acquired Shopflo for Rs 88 crore.
Pine Labs said the Shopflo acquisition will help the company offer D2C merchants an integrated, end-to-end platform spanning in-store payments and merchant solutions, online checkout, conversion optimization, D2C growth tools, and data and insights across channels.
“With the acquisition of Shopflo, we are taking a decisive step toward building a truly full-stack payments and commerce platform. This strengthens our ability to serve merchants end-to-end, from instore payments to online checkout and beyond. That’s how you build a merchant platform that matters.” B Amrish Rau, CEO of Pine Labs, said in a statement.
Shopflo business operations
Founded by IIT Madras alumnus Priy Ranjan, Ankit Bansal, and Ishan Rakshit, Shopflo gives online brands a seamless, intelligent checkout experience. The company has over 1000 customers.
Shopflo recorded a turnover of Rs. 14.7 crore in FY25. In the previous two fiscal years, its turnover was Rs 9 crore and 6 crore, respectively.
“We built Shopflo to solve one of the most critical challenges in e-commerce — improving conversion and customer experience at checkout. Joining forces with Pine Labs allows us to take our capabilities to a much larger merchant base and create a unified commerce ecosystem that delivers measurable growth,” said Priy Ranjan, Co-founder and CEO, Shopflo Technologies.
What Pine Labs gets from acquisition
Pine Labs said that what the company now offers is fundamentally different from anything else in the market. It has now become a single, integrated commerce platform where payment infrastructure and purchase experience are not separate products bolted together, but one unified system built for the merchant.
“Commerce today is no longer defined by channels — merchants need a single, intelligent platform that can power both their offline and online journeys,”, Rau said.
Pine Labs share price
Pine Labs stock closed at Rs 196 on Friday, about 0.4 percent lower in the intraday trade. In the last 5 trading sessions the company’s stock has grown by 1.3 percent.