Pine Labs has approved the acquisition of a 100% stake in Shopflo for up to ₹88 crore. The decision was taken on April 25, 2026, and the deal will be completed in cash within the next three months, possibly in multiple steps.
Even after the acquisition, Shopflo will continue to run independently. The company’s team is expected to grow to around 65 employees. However, its three co-founders will step down from their executive roles and take on advisory positions instead. This deal is part of Pine Labs’ plan to build a complete platform that connects both offline payments and online shopping experiences.
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Shopflo’s growth and what it offers
Founded in December 2021, Shopflo is a fast-growing startup focused on improving online checkout for D2C brands. It provides a software platform that helps businesses offer smoother and faster checkout experiences to customers.
Its tools include storing customer information for quick purchases, custom carts, discount features, and even WhatsApp messages to recover abandoned carts. Today, Shopflo works with more than 1,000 brands and serves around 60 million users. The company has also seen strong revenue growth. It earned ₹0.63 crore in FY23, which jumped to ₹9.15 crore in FY24 and ₹14.73 crore in FY25. However, it still reported a net loss of ₹3 crore in FY25 as it continued to invest in growth.
Pine Labs strengthens its platform
For Pine Labs, this acquisition is an important step in expanding its overall business. The company started in 1998 and has grown into one of India’s leading fintech firms, serving merchants across India and other countries.
It already offers services like point-of-sale machines, EMI options, prepaid cards, and online payment solutions through its platform Plural. By adding Shopflo’s checkout technology, Pine Labs wants to improve how businesses handle both in-store and online payments. The move also comes as competition in the fintech space is increasing, with companies like Razorpay, Paytm, and PhonePe growing rapidly. With this deal, Pine Labs aims to stay competitive and offer better solutions to merchants across all channels.