Pine Labs Ltd

Pine Labs Acquires Shopflo for ₹88 Crore 📈

- Acquired 100% stake in Shopflo Technologies for up to ₹88 crore in cash

- Shopflo is a SaaS platform focused on improving e-commerce checkout experiences

- Shopflo had a turnover of ₹147.35 million as of March 31, 2025

- Shopflo was incorporated in December 2021 and raised $3.7M from investors including Tiger Global

- Pine Labs' online payments revenue grew ~50% year-over-year in Q3 FY26

- Expansion into categories like hospitality and diagnostics

- Acquisition aims to create unified commerce and payments platform