Pine Labs has agreed to acquire 100% of Shopflo for up to ₹88 crore in an all-cash deal approved on 25 April 2026. The transaction, expected to close within three months and potentially executed in tranches, is aimed at strengthening Pine Labs’ omnichannel payments capabilities amid intensifying fintech competition.
Transaction details and leadership changes
Post-acquisition, Shopflo will continue to operate as an independent entity with plans to expand its team to about 65 employees. The three co-founders will step down from executive roles and transition to advisory positions. Pine Labs indicated the integration will focus on product and merchant synergies rather than a structural merger.
Shopflo’s growth and product suite
Founded in December 2021, Shopflo builds checkout infrastructure for direct-to-consumer brands, helping merchants improve conversion and reduce cart abandonment. Its toolkit includes one-click repeat purchases via stored customer profiles, customisable carts, dynamic discounting, and WhatsApp-based recovery workflows for abandoned carts.
Shopflo says it supports over 1,000 brands and has served around 60 million users. Revenue has scaled rapidly from ₹0.63 crore in FY23 to ₹9.15 crore in FY24 and ₹14.73 crore in FY25. The company reported a net loss of ₹3 crore in FY25, reflecting continued investments in product and growth.
Pine Labs’ strategy to deepen omnichannel reach
Established in 1998, Pine Labs is among India’s leading merchant-focused fintech firms with operations across India and select international markets. Its portfolio spans point-of-sale systems, deferred payment options such as EMIs, prepaid instruments, and the Plural platform for online payments.
Bringing Shopflo’s checkout stack into the fold is expected to enhance Pine Labs’ proposition across in-store and online journeys, enabling merchants to unify payments, promotions, and checkout experiences. The move positions Pine Labs to better compete with players such as Razorpay, Paytm, and PhonePe, as the market shifts towards integrated solutions that bridge offline and digital commerce.
