Pine Labs Ltd

Pine Labs Acquires Shopflo in ₹88 Crore Deal 🚀

• Acquired 100% stake in Shopflo Technologies for up to ₹88 crore (cash)

• Deal expected to close within 3 months

• Shopflo is a direct-to-consumer checkout platform with ₹147.35M turnover (March 2025)

• Integration will combine Shopflo's optimization tools with Pine Labs' payment infrastructure

• Shopflo was founded by Priy Ranjan, Ankit Bansal, and Ishan Rakshit

• Raised $3.7M from investors including Tiger Global

• Expected to enhance online merchant services and expand e-commerce presence