Pine Labs Expands with Shopflo Acquisition: A Boost to Unified Commerce

Pine Labs has acquired online checkout platform Shopflo for Rs 88 crore. The acquisition is set for completion within three months, facilitating a unified commerce system for merchants. By integrating payment and checkout experiences, Pine Labs aims to enhance service offerings to their e-commerce merchant clientele.

Pine Labs, a leading fintech company, announced on Saturday that it has acquired Shopflo, an online checkout optimization platform, for Rs 88 crore. The acquisition, which is an all-cash deal, is expected to close within three months, with payments to be made in two tranches according to regulatory filings.

This strategic move unites payment infrastructure with checkout processes, enabling online merchants to not only collect payments but also convert purchases more effectively. Pine Labs reported a 50% increase in revenue from its payments segment as of December, citing growth in sectors like hospitality, diagnostics, and fitness.

The acquisition will incorporate Shopflo's customer base of 1,000 e-commerce merchants into Pine Labs' operations, positioning the company as a comprehensive commerce platform. This integration means that payments and purchasing experiences are not separate components but a cohesive system built with the merchant in mind.