Fintech firm Pine Labs has acquired a 100% stake in Shopflo Technologies, a D2C checkout platform, in a deal valued at up to ₹88 crore, according to regulatory filings.
The acquisition, which will be completed within three months, is structured as an all cash transaction.
Founded in 2021, Shopflo provides checkout infrastructure and ecommerce enablement tools designed to improve conversion rates for online brands. The company reported ₹14.7 crore revenue in FY25, up from ₹9.1 crore in FY24 and ₹0.63 crore in FY23, reflecting rapid growth.
Pine Labs said the acquisition aligns with its strategy to build a full stack commerce and payments platform, integrating offline payments, online checkout, and customer engagement solutions into a unified offering for merchants.
Shopflo’s capabilities, including checkout optimisation, analytics, and cart abandonment reduction tools, will complement Pine Labs’ existing payments infrastructure.
The platform currently serves over 1,000 online brands and has enabled transactions for more than 60 million consumers, with merchants reporting 15–20% improvement in conversion rates.
Founded by Priy Ranjan along with Ankit Bansal and Ishan Rakshit, Shopflo had previously raised $3.7 million from investors including Tiger Global, TQ Ventures, and Better Capital.
On the financial front, Pine Labs reported around 50% year-on-year growth in its online payments business in Q3 FY26, with revenue rising to ₹744 crore, and a net profit of ₹42 crore, compared to a loss in the previous year.
With this acquisition, Pine Labs aims to strengthen its position in the D2C ecosystem, offering merchants a seamless platform across online and offline channels.
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