Pine Labs Acquires Shopflo to Enhance Digital Merchant Payment Solutions
Indian fintech enterprise Pine Labs has finalized an all-cash transaction to acquire Shopflo, a burgeoning ecommerce software startup, for Rs 88 crore (approximately $9.3 million).
This strategic acquisition aims to fortify Pine Labs’ position within the digital merchant payment landscape.
The incorporation of Shopflo is set to transform Pine Labs into a comprehensive commerce platform, effectively amalgamating both online and offline payment experiences for merchants.
Pine Labs has recently reported a commendable growth trajectory in its online business, witnessing a nearly 50% rise in payment revenue year-on-year in recent quarters.
The organization has been proactively diversifying its reach into various sectors, including hospitality, healthcare diagnostics, and fitness, while simultaneously investing in payment optimization, infrastructure reliability, and pioneering technologies such as AI-driven commerce.
The acquisition is strategically aimed at tackling a significant hurdle in ecommerce: customer attrition during the checkout process.
Despite advancements in payment systems, many businesses still encounter substantial losses in potential sales due to complicated forms, payment errors, and complications surrounding discounts and incentives.
Established in 2021 by Priy Ranjan, Ankit Bansal, Ishan Rakshit, and Advait Shankar, Shopflo specializes in checkout optimization tools tailored for direct-to-consumer and ecommerce brands.
The platform boasts a clientele exceeding 1,000 businesses, claiming to enhance conversion rates by 15–20%. Notable clients include brands such as Dot & Key, Nestasia, and The Sleep Company.
Shopflo’s revenue surged to Rs 147.35 million for the fiscal year ending March 2025, up from Rs 91.58 million the previous year, as per Pine Labs’ disclosures to the exchange.
Pine Labs anticipates that merging its payments infrastructure with Shopflo’s checkout technology will empower merchants to oversee the entire transactional journey through a singular system, from product selection to payment facilitation.
Commerce today transcends traditional channel definitions. Merchants require a cohesive, intelligent platform that enhances both their offline and online operations.
The acquisition of Shopflo represents a pivotal move towards establishing a truly full-stack payments and commerce platform, bolstering our capacity to serve merchants comprehensively, from in-store payments to online checkouts and beyond.
This is how we cultivate a merchant platform of significance, elaborated B Amrish Rau, CEO of Pine Labs.
“We developed Shopflo to address one of the most pressing challenges in ecommerce: enhancing conversion rates and customer experience during checkout.
Partnering with Pine Labs enables us to extend our capabilities to a broader merchant base and forge a unified commerce ecosystem that fosters measurable growth,” remarked Priy Ranjan, Co-founder and CEO of Shopflo Technologies.
Pine Labs maintains a presence across numerous international markets, including Southeast Asia, the Middle East, Australia, and the United States, asserting that this acquisition will bolster its ambitious drive into global ecommerce solutions.
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