Pine Labs Acquires Shopflo Technologies for ₹88 Crore to Build Unified Commerce Platform
Published on: April 25, 2026, 2:51 p.m. | Source: scanx.trade
Pine Labs Limited has announced the acquisition of 100% stake in Shopflo Technologies Private Limited for up to ₹88 crore through a cash transaction expected to complete within three months. The strategic acquisition aims to create a full-stack payments and commerce platform, combining Pine Labs' payment infrastructure with Shopflo's direct-to-consumer checkout optimization technology. Shopflo, incorporated in 2021, has shown strong growth with turnover increasing from ₹6.33 million in Mar 2023 to ₹147.35 million in Mar 2025, and serves over 1000 e-commerce brands with 15-20% conversion rate improvements.
