Fintech major Pine Labs has acquired a 100% stake in Shopflo in an all-cash deal valued at up to Rs 88 crore, as it looks to build a unified commerce and payments platform for merchants. The acquisition, approved by Pine Labs’ board, is expected to be completed within three months and will be executed in multiple tranches.
Shopflo, founded in 2021, offers checkout optimisation and e-commerce enablement solutions designed to improve conversion rates and reduce cart abandonment for direct-to-consumer (D2C) brands. The platform currently serves over 1,000 online merchants and powers transactions for more than 60 million consumers.
With this acquisition, Pine Labs aims to combine its payments infrastructure with Shopflo’s checkout technology to deliver an end-to-end platform spanning in-store payments, online checkout, conversion optimisation, and merchant growth tools. (The Financial Express)
Commenting on the acquisition, B Amrish Rau, CEO, Pine Labs, said, “Commerce today is no longer defined by channels — merchants need a single, intelligent platform that can power both their offline and online journeys. 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 in-store payments to online checkout and beyond. That’s how you build a merchant platform that matters.”
“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.
