New Delhi, 27 Apr, (CXO Media): Pine Labs has acquired checkout optimisation platform Shopflo for Rs 88 crore to expand its capabilities in the direct-to-consumer (D2C) commerce space. The deal signals the fintech company’s intent to strengthen its presence in online commerce infrastructure alongside its established offline payments business.
Checkout Technology Expansion
Shopflo provides checkout optimisation tools designed to improve the final stage of online purchases, an area widely seen as critical for reducing cart abandonment. The platform currently serves more than 1,000 online brands and supports transactions from around 60 million customers, according to company disclosures. Merchants using Shopflo have reported conversion rate improvements in the range of 15 to 20 per cent, indicating the growing demand for streamlined checkout experiences.
Financial Performance And Growth
Shopflo reported a turnover of Rs 14.73 crore for the financial year ending March 2025, reflecting a 61 per cent increase from Rs 9.15 crore recorded in the previous year. The company focuses on building and deploying software tools that support D2C checkout flows and broader e-commerce enablement functions. The growth trajectory highlights increasing adoption of specialised checkout technologies among online-first brands.
Strategic Fit For Pine Labs
For Pine Labs, the acquisition adds an online checkout layer to its existing payments and merchant solutions portfolio. The move reflects a broader shift among fintech firms toward offering integrated commerce platforms that connect in-store payment systems with digital storefront operations. Founded by IIT Madras alumnus Priy Ranjan along with Ankit Bansal and Ishan Rakshit, Shopflo is expected to help Pine Labs deepen engagement with merchants seeking unified payment and commerce workflows across online and offline channels.
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