Infibeam
Indian financial technology company
From Wikipedia, the free encyclopedia
Infibeam Avenues Limited is an Indian financial technology company that provides digital payment services, eCommerce platforms, digital lending, data cloud storage and omnichannel enterprise software to businesses.[2][3][4]
 | |
| Company type | Public |
|---|---|
| NSE: INFIBEAM BSE: 539807 | |
| Industry | Internet, Fintech |
| Founded | 2007 |
| Founder | Vishal Mehta |
| Headquarters | GIFT City, Gandhinagar, India |
Area served | India, West Asia, USA & Australia |
| Services |
|
| Revenue |  ₹3,171 crore (US$380 million)[1] |
| (FY23-24) | |
| ₹147 crore (US$17 million)[1] (FY23-24) | |
Number of employees | 650 (in 2022) |
| Subsidiaries | Rediff |
| Website | ia.ooo |
It provides payment infrastructure services through its flagship brand, CCAvenue.[5] Infibeam Avenues claims to have more than 1 crore (10 million) merchants on its platform. It also operates in overseas markets like United States, Saudi Arabia, UAE, and Australia.[6]
It is headquartered in GIFT City, Gujarat, India with offices in Delhi, Mumbai and Bengaluru.[7]
History
Infibeam Avenues was established in 2007 by Vishal Mehta.[8] The company was listed on the BSE and the NSE in 2016.
On 7 September 2022, Infibeam Avenues launched its omni-channel mobile app CCAvenue TapPay that allows businesses and entrepreneurs to convert any NFC-enabled Android phone into smart PoS terminals.[9]
In August 2024, Infibeam Avenues acquired a 54.1% stake in internet business firm Rediff.com.[10] Vishal Mehta, the founder of Infibeam, became the chairman and managing director of Rediff.com.[11]
Services
On November 20, 2017, Infibeam Avenues launched a digital bill payments platform built over the Bharat Bill Payment System (BBPS) infrastructure to enable service providers to accept online and offline bill payments from customers.[12] In 2022, the Reserve Bank of India granted Infibeam Avenues a perpetual renewal of BBPS licence for BillAvenue.[13]
Infibeam Avenues has a lending aggregation platform called Trust Avenue.[14]
Infibeam Avenues' enterprise ecommerce software platform BuildaBazaar (BAB) hosts an online marketplace for government procurement. The company entered into an agreement with Jio Platforms to offer its enterprise software licence and enterprise digital payments platform to Jio Platforms' internal businesses.[15][16][17]
Infibeam provides data center-as-a-service, and built a Tier-III data center in GIFT City, Gandhinagar.[18]
Mergers and acquisitions
| Year | Type | Company | Services | Stake | Cites |
|---|---|---|---|---|---|
| 2024 | Acquisition | Rediff.com | news portal and enterprise email services | 54% | [10] |
| 2024 | Investment | XDuce | enterprise app and AI development | 20% | [19] |
| 2023 | Investment | Pirimid Fintech | capital markets financial software | 49% | [20] |
| 2022 | Investment | Vishko22 | enterprise software products | 50% | [21] |
| 2022 | Acquisition | Uvik | software point-of-sale | [22] | |
| 2020 | Acquisition | Cardpay Technologies | spend management platform | [23] | |
| 2018 | Acquisition | Instant Global Paytech | digital payments tech | 48% | [24] |
| 2017 | Merger | CCAvenue | payment gateway | [25] | |
| 2017 | Acquisition | DRC Systems | software services | [26] | |
| 2014 | Acquisition | Odigma | digital marketing | $5 million | [27] |