Pine Labs, a prominent fintech platform, has announced the acquisition of Shopflo Technologies Private Limited, a company specialising in direct-to-consumer checkout solutions. The acquisition, approved by Pine Labs‘ Board of Directors on April 25, 2026, involves purchasing 100% of Shopflo’s shares from its existing shareholders.
Shopflo, incorporated on December 16, 2021, under the Companies Act, 2013, is known for its development and deployment of e-commerce enablement services and technology. As of March 31, 2025, Shopflo reported a turnover of ₹147.35 million and a paid-up capital of ₹2,78,180.
The acquisition is valued at up to ₹88 crore, payable in one or more tranches, and is expected to be completed within three months. The transaction is conducted on a cash basis and does not constitute a related party transaction under SEBI regulations.
Pine Labs aims to leverage Shopflo’s capabilities to create a unified commerce and payments platform that offers end-to-end solutions for direct-to-consumer merchants. This includes in-store payments, online checkout optimisation, consumer engagement tools, and seamless data integration across channels.
Commenting on the acquisition, B Amrish Rau, CEO of Pine Labs, highlighted the strategic importance of integrating Shopflo’s technology to enhance Pine Labs’ offerings. Priy Ranjan, Co-founder and CEO of Shopflo, expressed enthusiasm about joining Pine Labs to expand their reach and impact in the e-commerce sector.
This acquisition positions Pine Labs to address the growing needs of online merchants by providing a comprehensive platform that combines payment infrastructure with intelligent checkout solutions.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Business Desk and reviewed by Aman Shukla before publication.