Bengaluru: Global fintech platform Pine Labs today announced the acquisition of Shopflo, a next-generation online checkout optimisation platform trusted by over 1000 e-commerce online brands and powers seamless experiences for more than 60 million consumers. This acquisition marks a defining step in Pine Labs’ evolution into a full-stack payments and commerce platform — one that now serves merchants seamlessly across both offline and online channels.
As per its Q3 FY26 results, Pine Labs’ Online payments revenue grew ~50% YoY, expanding presence across new categories like hospitality, diagnostics, fitness, etc.
This growth in Online has been built on a deliberate strategy to solve real merchant problems in online commerce. Pine Labs has invested heavily in the infrastructure that online merchants need most: high success rates, payment optimization, all payment types including stable coins and Agentic commerce for the AI era. Each of these innovations addresses a distinct point of merchant pain — and together, they represent a payments backbone built for the complexity of modern online commerce.
The opportunity in Indian online commerce is enormous. Yet despite strong payments infrastructure across the industry, most merchants continue to lose potential customers between cart and payment —due to long forms for repeat users, coupon friction, payment failures, and poor incentivisation for prepaid transactions. This is not a payments problem alone. It is a commerce experience problem.
Founded by IIT Madras alumnus Priy Ranjan — a former McKinsey consultant and VC investor — alongside co-founders Ankit Bansal and Ishan Rakshit, Shopflo was purpose-built to give every online brand the seamless, intelligent checkout experience previously exclusive to the largest marketplaces. Brands using Shopflo have seen 15–20% improvements in conversion rates, with the platform already trusted by over 1000 brands targeting high-volume customer acquisition.
What Pine Labs now offers is fundamentally different from anything else in the market: a single, integrated commerce platform where payment infrastructure and purchase experience are not separate products bolted together, but one unified system built for the merchant. The result is a platform that can eliminate conversion loss, optimise for profitability, and serve the merchant’s customer at every touchpoint — from the first payment method offered to the final confirmation screen.
B Amrish Rau, CEO, Pine Labs, said “Commerce today is no longer defined by channels — merchants need a single, intelligent platform that can power both their offline and online journeys. With the acquisition of Shopflo, we are taking a decisive step toward building a truly full-stack payments and commerce platform. This strengthens our ability to serve merchants end-to-end, from in- store payments to online checkout and beyond. That’s how you build a merchant platform that matters.”
“We built Shopflo to solve one of the most critical challenges in e-commerce — improving conversion and customer experience at checkout. Joining forces with Pine Labs allows us to take our capabilities to a much larger merchant base and create a unified commerce ecosystem that delivers measurable growth,” said Priy Ranjan, Co-founder and CEO, Shopflo Technologies.
