India, April 25 -- Fintech major Pine Labs has acquired ecommerce-focused SaaS startup Shopflo in an all-cash deal worth Rs.88 Cr (about $9.3 Mn).

The online checkout optimisation platform will allow Pine Labs to increase its presence in the ecommerce and digital merchant payments space at a time when the latter's online payments revenue is seeing strong growth. Pine Labs' from online payments revenue grew around 50% YoY in the third quarter of FY25. 

"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," said Pine Labs CEO B Amrish Rau. ...