Pine Labs Expands E-commerce Footprint with Acquisition of Shopflo for 88 Crore Rupees

Pine Labs Acquires Online Checkout Optimization Platform Shopflo for Rs 88 Crore

Fintech company Pine Labs has announced the acquisition of Shopflo, an online checkout optimization platform, for Rs 88 crore. The all-cash acquisition will be complete in three months, with Pine Labs paying in two tranches, according to a regulatory filing.

This acquisition brings together payments infrastructure with checkout, empowering every online merchant to convert, not just collect, according to a statement. This integration will enable merchants to focus on driving sales and revenue growth, rather than just processing transactions.

Pine Labs' revenue from the payments front grew 50% in the December quarter, driven by activity in sectors like hospitality, diagnostics, and fitness. This growth is a testament to the company's expanding presence in the fintech industry.

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Shopflo boasts a customer base of 1,000 e-commerce merchants at present, the statement said. The acquisition will help Pine Labs pitch itself as 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.

Comparison of Pine Labs' Revenue Growth

Note: The revenue growth figures are based on the last reported numbers and are not specified for previous quarters.

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