Pine Labs acquires Shopflo to build India's leading unified commerce and payments platform

Global fintech platform Pine Labs today announced the acquisition of Shopflo, a next-generation online checkout optimisation platform trusted by over 1000 e-commerce online brands and powers seamless experiences for more than 60 million consumers. This acquisition marks a defining step in Pine Labs' evolution into a full-stack payments and commerce platform - one that now serves merchants seamlessly across both offline and online channels.

Pine Labs' Online Business Is Scaling Fast - And This Makes It Complete

As per its Q3 FY26 results, Pine Labs' Online payments revenue grew ~50% YoY, expanding presence across new categories like hospitality, diagnostics, fitness, etc.

This growth in Online has been built on a deliberate strategy to solve real merchant problems in online commerce. Pine Labs has invested heavily in the infrastructure that online merchants need most: high success rates, payment optimization, all payment types including stable coins and Agentic commerce for the AI era. Each of these innovations addresses a distinct point of merchant pain - and together, they represent a payments backbone built for the complexity of modern online commerce.

The foundation is now in place. Shopflo completes the picture.

Building a Unified Commerce Experience - From Infrastructure to Checkout

The opportunity in Indian online commerce is enormous. Yet despite strong payments infrastructure across the industry, most merchants continue to lose potential customers between cart and payment - due to long forms for repeat users, coupon friction, payment failures, and poor incentivisation for prepaid transactions. This is not a payments problem alone. It is a commerce experience problem.

Pine Labs, with the acquisition of Shopflo, is now positioned to solve it end-to-end.

Founded by IIT Madras alumnus Priy Ranjan - a former McKinsey consultant and VC investor - alongside co-founders Ankit Bansal and Ishan Rakshit, Shopflo was purpose-built to give every online brand the seamless, intelligent checkout experience previously exclusive to the largest marketplaces. Brands using Shopflo have seen 15-20% improvements in conversion rates, with the platform already trusted by over 1000 brands targeting high-volume customer acquisition.

What Pine Labs now offers is fundamentally different from anything else in the market: 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. The result is a platform that can eliminate conversion loss, optimise for profitability, and serve the merchant's customer at every touchpoint - from the first payment method offered to the final confirmation screen.

Commenting on the acquisition, B Amrish Rau, CEO, Pine Labs,said "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. That's how you build a merchant platform that matters."

"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.

The Future of Online Commerce - Unified, Intelligent, Complete

The next chapter of online commerce in India will not be won at the payment gateway. It will be won at the intersection of infrastructure, intelligence, and experience - by the platform that can serve a merchant from the moment a customer lands on their store to the moment a payment clears and a relationship begins.

That is the platform Pine Labs is building. With deep payments rails, AI-powered reliability, flexible financial tools, and now Shopflo's checkout intelligence, Pine Labs enters the next phase of growth as the most complete commerce platform available to online merchants in India and across the Global South. For merchants who have spent years stitching together point solutions, this is a fundamentally different proposition - one intelligent platform, one unified commerce experience, built to compete with anyone.

Shares of Pine Labs Limited was last trading in BSE at Rs. 195.65 as compared to the previous close of Rs. 196.70. The total number of shares traded during the day was 689923 in over 1926 trades.

The stock hit an intraday high of Rs. 199.00 and intraday low of 191.80. The net turnover during the day was Rs. 134165402.00.

Source : Equity Bulls

Keywords

PineLabs INE15B701018 FintechPlatform Acquisition Shopflo