Pine Labs Buys Shopflo for Rs 88 Crore, Bets Bigger on Ecommerce Checkout

Vasundhra Tewari

Pine Labs, Shopflo, Pine Labs acquisition, ecommerce checkout, D2C brands India, fintech India, startup acquisition India, digital payments, conversion rate optimisation, ecommerce India, Amrish Rau, Priy Ranjan

Pine Labs has acquired ecommerce software startup Shopflo in an all-cash deal worth Rs 88 crore, marking another step in the company’s push to move beyond payments and build a wider commerce platform for merchants.

The acquisition comes at a time when digital commerce brands are paying closer attention to a problem that often appears small but directly hurts sales: checkout drop-offs. Shopflo, founded by Priy Ranjan, Ankit Bansal & Ishan Rakshit offers checkout solutions for direct-to-consumer and ecommerce brands. Its platform works with more than 1,000 businesses and has helped improve conversion rates by 15 to 20 percent, with clients including Dot & Key and Nestasia.

For Pine Labs, the deal is not just about adding another product. It fits into a larger plan to become a full-stack commerce platform, bringing online and offline payment journeys under one system. The company said combining its payments infrastructure with Shopflo’s checkout technology would help merchants manage the customer journey from product selection to final payment.

Pine Labs has also reported growth in its online business, with payments revenue rising by about 50 percent year-on-year. The company has been expanding into sectors such as hospitality, healthcare diagnostics and fitness, while investing in automation, infrastructure reliability and newer technologies, including AI-driven commerce.

Shopflo’s revenue rose to Rs 147.35 million in the year ended March 2025, compared with Rs 91.58 million a year earlier, according to the filing cited in the information available.

Pine Labs CEO B Amrish Rau said merchants now need a single intelligent platform that can power both online and offline journeys. Shopflo co-founder and CEO Priy Ranjan said joining Pine Labs would help take its checkout capabilities to a larger merchant base.

The deal also gives Pine Labs more room to strengthen its ecommerce play across markets where it already operates, including Southeast Asia, the Middle East, Australia and the US.

At its core, the acquisition signals a clear shift in India’s fintech and commerce stack: payments companies no longer want to sit only at the transaction layer. They want to own more of the merchant journey, especially the point where browsing turns into buying.

Also Read: Who Owns Your Team Now? IPL’s Latest Ownership Breakdown