Fintech platform Pine Labs acquired checkout optimisation platform Shopflo for Rs 88 crore on Saturday as the Amrish Rau-led company looks to deepen engagement with direct-to-consumer (D2C) merchants.
The company claimed that Shopflo had over 1,000 e-commerce online brands processing transactions for 60 million customers.
Shopflo’s turnover as of March 2025 was Rs 14.73 crore. It had grown 61 per cent from Rs 9.15 crore in the previous year.
The company is engaged in the business of development, deployment, operation and commercialisation of a D2C checkout platform and offers engine and e-commerce enablement services.
“Commerce today is no longer defined by channels — merchants need a single, intelligent platform that can power both their offline and online journeys. With the acquisition of Shopflo, we are taking a decisive step toward building a truly full-stack payments and commerce platform. This strengthens our ability to serve merchants end-to-end, from instore payments to online checkout and beyond,” said B Amirsh Rau, chief executive officer (CEO), Pine Labs.
The company was founded by IIT Madras alumnus Priy Ranjan — a former McKinsey consultant and VC investor — alongside co-founders Ankit Bansal and Ishan Rakshit.
It claims that merchants using Shopflo have seen 15 to 20 per cent improvement in conversion rates.
“We built Shopflo to solve one of the most critical challenges in e-commerce — improving conversion and customer experience at checkout. Joining forces with Pine Labs allows us to take our capabilities to a much larger merchant base and create a unified commerce ecosystem that delivers measurable growth,” said Priy Ranjan, Co-founder and CEO, Shopflo Technologies.