# Pine Labs 已以 8,800 萬盧比收購電商推手 Shopflo Technologies。

*fintech, business · news · 2026-04-25 · The Economic Times*

## Key points

- Pine Labs 以 8,800 萬盧比收購 Shopflo Technologies，取得該新創公司 100% 股權。
- 包括 Tiger Global 在內的所有現有 Shopflo 投資者將在交易中全部退出。
- 這是 Pine Labs 上市後的首次收購，且完全由內部盈餘資金支持。
- Shopflo 共同創辦人將辭去執行職務，但收購後將繼續擔任顧問。
- Pine Labs 將利用 Shopflo 進軍目前由競爭對手主導的中小型商家市場。

Synopsis Digital payments major Pine Labs has acquired ecommerce enabler Shopflo Technologies for Rs 88 crore, aiming to strengthen its online merchant offerings. This strategic move allows Pine Labs to expand its reach into the mid-market and small business segments, intensifying competition with rivals like Razorpay and PayU. Listen to this article in summarized format Digital payments major Pine Labs has acquired Shopflo Technologies, an ecommerce enabler that helps direct-to-consumer brands with payment checkout services. The acquisition will strengthen Pine Labs' product offerings for online merchants as it scales this business and competes with players such as Razorpay, Cashfree and PayU. In a filing with the stock exchanges, Pine Labs said its board has approved an investment of Rs 88 crore ($9.4 million) for a 100% stake in the New Delhi-based startup. Founded in 2021, Shopflo works with 1,000 D2C brands, offering capabilities such as payment checkout, discounts, loyalty programmes and other features. It also provides a payment orchestration platform that enables brands to route transactions in a way that reduces payment failures. In 2022, Shopflo raised around Rs 24.5 crore ($2.6 million) in seed funding from Better Capital, Tiger Global Management and TQ Ventures. All existing investors will exit the company as part of the deal. "This is our first investment after going public and will be fully funded through internal accruals," said Amrish Rau, chief executive officer of Pine Labs. "Even before going public, we had around Rs 1,100 crore in cash." Rau said Pine Labs Online has grown 100% year-on-year over the past three years, focusing on large enterprises and bill payment clients. With this acquisition, the company will also target the mid-market and small business segment, where competitors such as Razorpay have a strong presence. The three cofounders of Shopflo, IIT-graduates Priy Ranjan, Ankit Bansal and Ishan Rakshit, will step down from their executive roles post the acquisition. They will remain associated with the company in an advisory capacity only. Shopflo will continue to operate independently, with headcount expected to increase to around 65. Pine Labs Online will have a team of about 400 people following the acquisition, Rau said. Pine Labs had earlier acquired Setu in 2022 to strengthen its bill payments and online payments operations. The company is yet to announce its March quarter results, and Rau did not share any forward-looking guidance on the revenue impact of the acquisition. According to filings with the corporate affairs ministry, Shopflo reported revenue of Rs 15.5 crore in FY25 and a net loss of Rs 3 crore. Pine Labs reported a profit of Rs 42 crore on operating revenue of Rs 744 crore in the December quarter, up 23% on-year. (Catch all the Technology News News, and Latest News Updates on The Economic Times.) ...more

**Companies:** Pine Labs, Shopflo Technologies
**Countries:** India

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/tech/technology/pine-labs-acquires-100-stake-in-ecommerce-enabler-shopflo-for-rs-88-crore/articleshow/130511770.cms)

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