Bengaluru — Fintech company Pine Labs has acquired Shopflo, an online checkout optimisation platform, in a move aimed at expanding its payments and commerce capabilities across online and offline channels.
According to the announcement, Shopflo is used by more than 1,000 e-commerce brands and supports transactions for over 60 million consumers. The acquisition is intended to combine Pine Labs’ payments infrastructure with Shopflo’s checkout technology to address challenges in online commerce, particularly customer drop-offs during the checkout process.
Pine Labs reported that its online payments revenue grew about 50% year-on-year in the third quarter of fiscal year 2026, with expansion into sectors such as hospitality, diagnostics, and fitness. The company said it has invested in areas including payment optimisation, multiple payment methods, and infrastructure designed to improve transaction success rates.
Shopflo, founded by Priy Ranjan along with co-founders Ankit Bansal and Ishan Rakshit, focuses on improving checkout experiences. The company stated that its platform has helped merchants increase conversion rates by 15–20%.
B Amrish Rau, CEO of Pine Labs, said the acquisition supports the company’s goal of offering an integrated platform for merchants across in-store and online transactions. Ranjan said the deal would allow Shopflo to expand its reach and enhance its checkout solutions.
The combined platform aims to provide merchants with a unified system covering payment processing and customer purchase experience.
