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Pine Labs Buys Shopflo for ₹88 Cr
25 Apr
Summary
- Pine Labs acquired Shopflo for up to ₹88 crore.
- Acquisition aims to strengthen Pine Labs' online payments.
- Shopflo's platform improves e-commerce conversion rates.
Fintech giant Pine Labs announced its acquisition of Shopflo Technologies, a start-up specializing in checkout optimization. The deal, valued at up to ₹88 crore in cash, is expected to conclude within three months.
This acquisition significantly enhances Pine Labs' strategy to build a comprehensive commerce platform. It aims to integrate payment infrastructure with front-end customer experience tools, offering direct-to-consumer merchants a full-stack solution for both online and in-store operations.
Shopflo's platform has already demonstrated success, reportedly boosting conversion rates by 15-20% for over 1,000 online brands. This move positions Pine Labs to better compete with full-stack commerce providers by addressing payment acceptance, conversion, and customer retention.
The integration is expected to optimize the entire purchase journey for merchants, supporting Pine Labs' growth in India and other emerging markets.
