Pine Labs Acquires Shopflo for Rs 88 Cr

Mumbai, Apr 25 (PTI) Fintech company Pine Labs on Saturday announced the acquisition of Shopflo, an online checkout optimisation platform, for Rs 88 crore.

The all-cash acquisition will be complete in three months, and Pine Labs will pay in two tranches, according to a regulatory filing.

The acquisition unites payments infrastructure with checkout, which will give every online merchant the power to convert, not just collect, as per a statement.


As per the last reported numbers, Pine Labs' revenue from the payments front grew 50 per cent in December quarter driven by activity witnessed in sectors like hospitality, diagnostics and fitness.

Shopflo boasts of a customer base of 1,000 e-commerce merchants at present, the statement said.

The acquisition will help Pine Labs to pitch as a single, integrated commerce platform where payment infrastructure and purchase experience are not separate products bolted together, but one unified system built for the merchant, as per the statement.