Pine Labs Acquires Shopflo Technologies for ₹88 Crore to Boost Unified Commerce
Pine Labs is acquiring 100% of Shopflo Technologies for up to ₹88 crore to create a unified commerce and payments platform. The deal, approved on April 25, 2026, is expected to close within three months. Shopflo's platform aims to improve e-commerce conversion rates for over 1000 brands.
This acquisition is significant as it aims to create a leading unified commerce and payments platform in India, potentially altering the competitive landscape and enhancing Pine Labs' value proposition to merchants.
The acquisition is positive as it strengthens Pine Labs' market position by expanding its service offerings and creating a more comprehensive platform for merchants.
Pine Labs Limited has announced the acquisition of 100% stake in Shopflo Technologies Private Limited for up to ₹88 crore in tranches. The acquisition, approved by the Board of Directors on April 25, 2026, aims to integrate Shopflo's direct-to-consumer checkout platform with Pine Labs' existing payment infrastructure.
Shopflo, incorporated on December 16, 2021, specializes in e-commerce enablement services and offers an intelligent checkout experience. Its platform has demonstrated improvements in conversion rates, with over 1000 brands trusting it to serve more than 60 million consumers. Shopflo's turnover was ₹147.35 million as of March 31, 2025.
This strategic move is expected to enhance Pine Labs' offering by providing merchants with a unified, end-to-end platform that spans in-store payments, online checkout optimization, D2C growth tools, and consumer engagement capabilities. The acquisition is anticipated to be completed within three months and does not fall under related party transactions. Pine Labs' CEO, B Amrish Rau, stated that this acquisition is a decisive step towards building a full-stack payments and commerce platform, strengthening their ability to serve merchants across both offline and online channels.
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Pine Labs Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Pine Labs Limited. Read the original for the full detail.