April 2026 | India Fintech & E-commerce News – Pine Labs has acquired a 100% stake in Shopflo Technologies in a deal valued at up to ₹88 crore, marking a strategic move to expand its presence in the direct-to-consumer (D2C) and e-commerce ecosystem.
According to regulatory filings, the acquisition—structured as an all-cash transaction—is expected to be completed within the next three months.
Strengthening Full-Stack Commerce Capabilities
The acquisition aligns with Pine Labs’ broader strategy to build a full-stack commerce and payments platform.
With this deal, the company aims to offer merchants:
- Integrated offline and online payment solutions
- Advanced checkout optimization tools
- Enhanced customer engagement capabilities
By combining payments infrastructure with checkout technology, Pine Labs is positioning itself as a comprehensive platform for modern merchants.
About Shopflo: Driving D2C Checkout Innovation
Founded in December 2021 by Priy Ranjan, Ankit Bansal, and Ishan Rakshit, Shopflo Technologies focuses on building checkout infrastructure and e-commerce enablement tools.
Key Offerings:
- Checkout optimization
- Conversion rate enhancement
- Payment success improvement
- Analytics and merchant insights
The platform helps reduce cart abandonment and improve user experience during online purchases.
Strong Growth & Market Traction
Shopflo Technologies has demonstrated rapid growth:
- FY25 Revenue: ₹14.7 crore
- FY24 Revenue: ₹9.1 crore
- FY23 Revenue: ₹0.63 crore
Platform Impact:
- Serves 1,000+ online brands
- Enabled transactions for 60+ million consumers
- Delivered 15–20% improvement in conversion rates for merchants
Funding & Investor Backing
Shopflo Technologies has raised around $3.7 million from investors including:
- Tiger Global
- TQ Ventures
- Better Capital
Notably, the startup gained attention when Tiger Global made its first seed investment in India through Shopflo.
Pine Labs’ Financial Performance
Pine Labs has been strengthening its financial position:
- Online payments revenue grew 50% YoY in Q3 FY26
- Revenue reached ₹744 crore, up from ₹601 crore
- Net profit stood at ₹42 crore, compared to a loss of ₹57 crore in Q3 FY25
The company’s improving financial performance reflects stronger execution and growth in its digital payments business.
Market Outlook: Rise of Integrated Commerce Platforms
The D2C and e-commerce ecosystem in India is rapidly evolving, with increasing demand for:
- Seamless checkout experiences
- Higher conversion rates
- Integrated payment and engagement solutions
The acquisition of Shopflo Technologies positions Pine Labs to capitalize on this trend by offering a unified commerce platform across online and offline channels.
Ruchi Kumar is the associate editor at Entrepreneur News Network and TVW News India, where she leads editorial strategy, brand storytelling, and startup ecosystem coverage. With a strong focus on innovation, business, and marketing insights, he curates impactful narratives that spotlight India’s evolving entrepreneurial landscape. She has written extensively on fintech, AI and emerging startups.