Gujarat-based company Infibeam Avenues declared its intention to purchase a 54% share in Rediff.com. As an aggregator, this is the first of its consumer-facing digital financial services. To improve user engagement and create new revenue streams, Infibeam intends to integrate Rediff.com’s services with its own suite of digital payment services, platform business offerings, and AI solutions.
The internally funded acquisition is said to be worth about INR 50 crore. With the completion of this internally funded acquisition, Infibeam Avenues has achieved a significant milestone. It is the start of its consumer-facing digital financial service, which functions as an aggregator supported by enterprise email storage on the cloud, mainstream news, and collaboration platforms.
Rediff is one of the top 1000 websites in the world in terms of traffic, with over 55 million monthly visitors. It boasts a sizable user base and data assets, offering rich insights into the spending habits, preferences, and behavior of its users. The user base of Rediff.com provides an ideal environment for cross-selling artificial intelligence-powered financial products, including investment, insurance, and loan products. By using the platform to advertise these services, RediffMONEY can boost product adoption and provide customers lifetime value.
With this acquisition, Infibeam begins its journey into offering full-featured digital services, capitalizing on Rediff.com’s well-known brand and offerings, including content distribution, cloud-based enterprise email storage, and related commerce services. Rediff.com’s reputable services and Infibeam’s fintech expertise should work together to create a seamless digital environment that integrates financial transactions with content consumption.
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Through a strategic partnership with Rediff.com, Infibeam aims to expand its portfolio offerings and create new revenue streams for the company by providing enterprise email to merchants, consumer financial services, and content businesses. With its regulatory capabilities supporting it, this will also increase the company’s footprint in the digital economy.
The company Infibeam Avenues, well-known for its enterprise software platforms and digital payment gateway CCAvenue, intends to combine Rediff.com’s services with its digital payment services, platform business offerings, and AI solutions. Enhancing user engagement and creating a new revenue stream are the goals of this integration.
Through the creation of a comprehensive digital environment where financial transactions and content consumption coexist seamlessly, the combined company is expected to strengthen Infibeam’s position in the digital finance aggregation market.
The company’s foreign subsidiary, Infibeam Avenues Saudi Arabia, made history in the fintech industry by becoming the first in India to obtain PTSP Certification from the Saudi Arabian Monetary Authority (SAMA). This certification enables the company to function as a Payment Processor (PTSP) within the Kingdom of Saudi Arabia (KSA).
Vishal Mehta, chairman and managing director, Infibeam Avenues Ltd, said,
“This transaction harnesses the synergies between Infibeam Avenues’ fintech expertise and Rediff.com’s esteemed brand legacy. We are poised to cement our position as a leader in the dynamic landscape of digital finance aggregation, cloud storage, and content distribution.”
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