What Shopflo does

Shopflo Technologies is a New Delhi-headquartered SaaS company founded in late 2021 by IIT Madras/IIT Bombay alumni Priy Ranjan, Ankit Bansal, and Ishan Rakshit, focused on the final stages of the D2C e-commerce funnel. Its platform consolidates checkout, identity, analytics, payment routing, cart customization, discount logic, upsell, and post-purchase engagement into a nine-module stack that serves 1,500+ Indian D2C brands including Vahdam, Sleepy Owl, Dr. Sheth's, YogaBar, Dot & Key, Traya, Nestasia, and Tata Simply, processing roughly 12% of India's D2C purchases across 150Mn+ shoppers.

The platform's core proprietary asset is the Shopflo Network (Identity), a password-less OTP-based cross-brand login system that authenticates shoppers across all Shopflo merchants on the network, compounding consumer-side utility as more brands adopt it. Additional differentiation includes multi-payment-gateway routing with PG-downtime failover, a discount engine supporting 100+ configuration types with stackability rules, 100% order attribution analytics, and an RTO-prevention module that uses order-value, customer-history, address, and network-intelligence signals to block high-risk COD orders. ISO 27001 and ISO 27701 certifications were achieved in 2024, supporting enterprise procurement. Distribution combines a PLG/self-serve onboarding motion (go-live in under a week), listings on Shopify/Magento/WooCommerce app stores and the Razorpay integration ecosystem, and a tiered agency partner program (named resellers include Beyond Ads and Outwrk).

The company operates a performance-driven pricing model with a base Platform Access Fee plus variable fees indexed to merchant GMV that decline as volume scales; tiers range from a Rs 3,000/month Starter plan to an Enterprise tier with custom GMV-based pricing and auto-upgrades when merchants cross volume thresholds. FY25 turnover stood at Rs 14.73 crore (~$1.76M), up 61% from Rs 9.1 crore in FY24. In April 2026, Pine Labs announced the acquisition of 100% of Shopflo for Rs 88 crore (~6x revenue), with the deal completing on June 10, 2026; Shopflo continues operating as a wholly-owned subsidiary with its existing team, product focus, and partner-first model, now with distribution access to Pine Labs' payments merchant base.

Name

Shopflo

Legal name

Shopflo Technologies

Website

https://shopflo.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Shopflo is a New Delhi–headquartered SaaS platform that provides checkout, identity, analytics, payment routing, discount, and upsell modules to India's D2C e-commerce brands. The platform powers 1,500+ brands and 150M+ shoppers via a cross-brand login network and was acquired by Pine Labs in June 2026.

Ownership category

akta.pro rank

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. SaaS Platform Access Fees: Performance-driven pricing model with a Platform Access Fee to get started plus variable fees that decrease as GMV grows. Starter plan available at ₹3,000/month with automatic upgrades when monthly sales cross thresholds.
2. Transaction-based Pricing: Variable fees tied to merchant GMV volume, where the fee percentage drops as the merchant's sales volume increases, aligning Shopflo's revenue with merchant success.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Shopflo is a SaaS platform that provides D2C and e-commerce brands with a customizable checkout, cart, payment routing, identity, discount, upsell, analytics and fraud-prevention toolkit to lift checkout conversion rates, increase average order value, raise prepaid share and reduce return-to-origin. It is sold on a tiered subscription with performance-linked transaction fees to brands selling online, primarily in India.

Product overview

Shopflo is a comprehensive D2C commerce platform that has evolved from a checkout-focused solution into a full-suite offering. The platform operates on a modular architecture built around a core Checkout product, supplemented by specialized modules including Identity (network-based authentication), Analytics, Payments (multi-PG routing), Cart, Design/Elements (UI customization), Discount Engine, Upsell, and Shop Pass (customer identification and engagement). Solutions layer on top as combined capabilities targeting Better Conversions, Improved Prepaid Share, Increased AOV, and Reduced RTO. The platform serves 1,000+ D2C brands and processes approximately 12% of India's D2C purchases. As of April 2026, Shopflo was acquired by Pine Labs for Rs 88 crore and continues to operate independently while integrating with Pine Labs' payments infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Checkout Shopflo's flagship gamified checkout platform designed to increase conversions by reducing cart abandonment and providing an intuitive purchase experience. Used by D2C and e-commerce brands to lift checkout conversion rates.
• Identity (Shopflo Network) Password-less OTP-based login backed by a network of 100Mn+ users across 1,000+ brands; once a customer logs into one Shopflo brand, they are logged in across all Shopflo brands.
• Analytics Checkout metrics dashboard with granular insights into conversion funnels, module-level analytics for Payments, Discounts and more, and 100% order attribution versus ~70% with Google Analytics.
• Payments Multi-payment gateway routing that allows merchants to optimize payment success rates by routing transactions across multiple PGs and customizing payment method ordering, with automatic failover during PG downtime.
• Cart Fully customizable cart experience that drives higher conversions and AOV, with features including discounts, upsells, progress bars and custom UI elements matching brand identity.
• Design (Elements) UI customization suite for checkout experiences including theme colors, content customization, progressive banners, discount reordering and payment tile reorganization.
• Discount Engine Discount management system supporting capped, tiered, freebie, bundle and stackable discounts, with 100+ configuration types and granular discount analytics to optimize discount burn.
• Upsell One-click upsell feature at checkout that recommends relevant products based on cart context to encourage impulse buying and increase average order value.
• Shop Pass Customer identification and engagement tool that identifies high-intent shoppers, enables retargeting across devices and browsers, and integrates with WhatsApp, email, ads and SMS for multi-channel marketing.

Quantifiable outcome

• 27.2% increase in store conversions for Shopflo brands
• +10 more outcomes

Named customers17 records

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature9 records

Partnerships

Eight partnerships are on record, tiered flagship and core.

• Pine LabsflagshipStrategic or Co-development Partner · 25 April 2026Pine Labs acquired 100% stake in Shopflo for ₹88 crore in April 2026, completed June 10, 2026. The acquisition combines Shopflo's checkout and shopper experience platform with Pine Labs' deep payments infrastructure (settlements, merchant financial services) to build a unified commerce platform. Shopflo operates as a wholly-owned subsidiary with same team, product focus, and partner-first philosophy.
• ShopifycoreTechnology or IntegrationIntegration available through Shopify App Store, allowing Shopify merchants to easily add Shopflo's checkout optimization, discount engine, and other commerce tools to their stores.
• RazorpaycoreTechnology or IntegrationPayment gateway integration enabling Shopflo merchants to process payments through Razorpay's payment infrastructure with optimized routing and success rate management.
• MagentocoreTechnology or IntegrationIntegration available for Magento (Adobe Commerce) merchants to add Shopflo's checkout and commerce optimization capabilities to their online stores.
• WooCommercecoreTechnology or IntegrationPlugin integration for WooCommerce (WordPress) merchants to access Shopflo's checkout optimization and commerce tools.
• Beyond AdscoreChannel Partner/ Reseller/ DistributorAgency partner that implements Shopflo for D2C brand clients. Beyond Ads has been an early partner with Shopflo and provides implementation and optimization services.
• OutwrkcoreChannel Partner/ Reseller/ DistributorMarketing agency partner that recommends Shopflo to D2C brands for checkout experience optimization and conversion improvement.
• Obhan MasoncoreImplementation/ SI/ Consulting PartnerLaw firm acted as lead legal counsel to Pine Labs on the Shopflo acquisition, advising on transaction structure and execution.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Fast: Fast provides one-click checkout infrastructure and a shopper identity network for e-commerce brands, the closest functional analogue to Shopflo's password-less identity and gamified checkout. The two compete for the same merchant value proposition of faster, higher-converting checkouts.
• Juspay: Juspay is an Indian payment orchestration and checkout platform serving large-scale merchants, comparable to Shopflo's multi-PG routing and checkout reliability features. Both focus on payment success rates, gateway failover, and unified checkout infrastructure.
• Bolt: Bolt is a one-click checkout and checkout optimization network for online merchants, directly comparable to Shopflo's Shopflo Network identity and checkout products. Both compete on reducing checkout friction and increasing conversion through network-based authentication.
• Razorpay (Magic Checkout): Razorpay is Shopflo's direct Indian competitor, offering Magic Checkout alongside payment gateway, identity, and broader commerce enablement to D2C brands. Shopflo already integrates with Razorpay as a payment partner, underscoring head-to-head competition in the Indian checkout space.
• Bold Commerce: Bold Commerce offers checkout, cart, discount, and subscription commerce tooling for online merchants, closely comparable to Shopflo's Cart, Discount Engine, and Upsell modules. Both operate as overlay SaaS on top of major commerce platforms.
• Fastrr: Fastrr is an Indian checkout, COD-to-prepaid, and RTO-prevention platform for D2C brands, directly overlapping Shopflo's Better Conversions, Improve Prepaid Share, and Reduce RTO solutions. Both target the same Indian D2C merchant pain points around COD and cart abandonment.

Emerging players

• Rebuy: Rebuy is a checkout and post-purchase personalization SaaS specializing in upsell, cross-sell, and AI recommendations, comparable to Shopflo's Upsell and Shop Pass modules. It competes for the same AOV-driven merchant use cases, particularly on Shopify.

Broad incumbents

• Stripe Checkout: Stripe's Checkout and Link products deliver one-click, network-based checkout globally and serve many of the same merchant personas as Shopflo. While not D2C-India focused, Stripe represents the global benchmark for checkout infrastructure competing for the same wallet share.
• Shopify (Shop Pay): Shopify's Shop Pay and native checkout, discount, and analytics features are bundled into the core platform that Shopflo integrates with. Shopify represents both a key distribution channel and the largest competitive threat via native feature parity.
• Cashfree Payments: Cashfree is a broad Indian payments and payout platform with checkout, payment gateway, and identity-adjacent offerings. It competes with Shopflo indirectly through bundled checkout and merchant onboarding rather than dedicated D2C checkout optimization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/shopflo_
• LinkedInlinkedin.com/company/shopflo
• Instagraminstagram.com/shopflo_co

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shopflo