Pine Labs Limited has informed the Exchange regarding a press release dated April 25, 2026, titled "Pine Labs acquires Shopflo to build India s leading unified commerce and payments platform".
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Pine Labs Limited has approved the acquisition of 100% stake in Shopflo Technologies Private Limited for up to Rs. 88 crore in cash. Shopflo is a SaaS-based checkout optimization platform serving over 1,000 e-commerce brands and 60 million consumers. The acquisition is expected to close within 3 months with no regulatory approvals required. Shopflo reported turnover of Rs. 147.35 million for FY25, growing from Rs. 6.33 million in FY23. The deal aims to build a unified commerce and payments platform combining Pine Labs' offline payments infrastructure with Shopflo's online checkout capabilities.
This acquisition strengthens Pine Labs' online business by adding checkout optimization technology, potentially improving conversion rates for merchant clients. The Rs. 88 crore deal is relatively small but strategically important as it completes Pine Labs' full-stack commerce offering across offline and online channels.