Infibeam

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Infibeam Avenues Limited
Company type Public
NSE:  INFIBEAM
BSE:  539807
Industry Internet, Fintech
Founded2007;18 years ago (2007)
FounderVishal Mehta
Headquarters GIFT City, Gandhinagar, India
Area served
 India, West Asia, USA & Australia
Services
RevenueIncrease2.svg ₹ 3,171 crore (US$380 million) [1]
 (FY23-24)
Increase2.svg₹147 crore (US$17 million) [1]  (FY23-24)
Number of employees
650 (in 2022)
Subsidiaries Rediff
Website ia.ooo

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]

Contents

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

Infibeam provides a digital payment gateway service through CCAvenue. [12] In 2022, Infibeam Avenues was granted the payment aggregator licence by the Reserve Bank of India for CCAvenue. [13]

On November 20, 2017, Infibeam Avenues launched BillAvenue, 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. [14] In 2022, the Reserve Bank of India granted Infibeam Avenues a perpetual renewal of BBPS licence for BillAvenue. [15]

Infibeam Avenues has a lending aggregation platform called Trust Avenue. [16]

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. [17] [18] [19]

Infibeam provides data center-as-a-service, and built a Tier-III data center in GIFT City, Gandhinagar. [20]

Mergers and acquisitions

YearTypeCompanyServicesStakeCites
2024Acquisition Rediff.com news portal and enterprise email services54% [10]
2024InvestmentXDuceenterprise app and AI development20% [21]
2023InvestmentPirimid Fintechcapital markets financial software49% [22]
2022InvestmentVishko22enterprise software products50% [23]
2022AcquisitionUviksoftware point-of-sale [24]
2020AcquisitionCardpay Technologiesspend management platform [25]
2018AcquisitionInstant Global Paytechdigital payments tech48% [26]
2017MergerCCAvenuepayment gateway [27]
2017AcquisitionDRC Systemssoftware services [28]
2014AcquisitionOdigmadigital marketing$5 million [29]

References

  1. 1 2 "Infibeam Avenues reports 55% jump in profits at Rs 147 crore for FY24". The Economic Times. 16 May 2024.
  2. ↑ Dutta, Vishal (19 August 2019). "Fintech firm Suvidhaa plans e-commerce foray". The Economic Times .
  3. ↑ "Migration Message" (PDF). Suvideals.ooo.
  4. ↑ "Infibeam's BillAvenue adds 1 million agents; targets reaching 5 million agents by 2025". The Economic Times. 6 March 2023.
  5. ↑ "Infibeam Avenues Unveils CCAvenue SoundBox Max, A Next-Generation Payment Solution for Merchants - Indian Startup Times". Indianstartuptimes. 3 September 2024.
  6. ↑ "Infibeam Avenues Ltd deepens its reach in digital payments". EquityBulls. 4 January 2023.
  7. ↑ S. Prem Kumar. "Infibeam's double-edged strategy". The Smart CEO. Retrieved 29 April 2013.
  8. ↑ Suresh P. Iyengar (6 October 2013). "No competitors here, all are partners". The Hindu Business Line. Retrieved 8 December 2014.
  9. ↑ "Infibeam Avenues launches mobile app with TapPay feature". The Economic Times. 30 June 2022.
  10. 1 2 "Infibeam Avenues acquires 54.1% stake in Rediff.com for ₹50 crore". BusinessLine. 2 August 2024.
  11. ↑ "Infibeam founder Vishal Mehta becomes Rediff's new Chairman and Managing Director". Business Today. 4 October 2024.
  12. ↑ Umarji, Vinay (4 November 2021). "Infibeam's CCAvenue starts TokenPay to help merchants comply with RBI norms". Business-standard.com.
  13. ↑ "Infibeam Avenues receives RBI in-principle nod for payment aggregator licence". The Economic Times. 27 October 2022.
  14. ↑ "Infibeam subsidiary Avenues India launches BillAvenue - ET Retail". ETRetail.com.
  15. ↑ "Infibeam Avenues announces perpetual renewal of 'Bharat Bill Payment' license by RBI". cnbctv18.com. 26 December 2022.
  16. ↑ "Infibeam Avenues plans AI-based lending for its 3 million merchants through tie-ups with banks, NBFCs". Financialexpress. 10 August 2021.
  17. ↑ "TTK Prestige Announces e-Commerce Alliance with Infibeam.com". The Economic Times. 21 January 2010. Retrieved 5 May 2013.
  18. ↑ "Infibeam enters into an agreement with Reliance Jio for its enterprise solutions". Moneycontrol. 5 October 2020.
  19. ↑ Suneja, Kirtika; Agarwal, Surabhi. "Intellect, Infibeam bag contract for government marketplace". The Economic Times.
  20. ↑ George, Aaron St. "Infibeam Avenues receives Tier III Design Certification from Uptime Institute for its Data Center - equitybulls.com". uptimeinstitute.com.
  21. ↑ "Infibeam Avenues Acquires 20% Stake In US-Based AI Development Company XDuce For $10 Mn". Inc42 Media. 25 February 2024.
  22. ↑ "Infibeam Avenues picks up 49% stake in Ahmedabad-based Pirimid Fintech". Business Standard.
  23. ↑ "Infibeam Avenues invests in software startup Vishko22". The Economic Times. 25 August 2022.
  24. ↑ Vora, Rutam (7 February 2022). "Infibeam to bring technology that converts smartphones into 'payment terminals'". Thehindubusinessline.com.
  25. ↑ "Infibeam Avenues acquires Cardpay Technologies". The Economic Times. 8 June 2020.
  26. ↑ "Infibeam Avenues invests in Instant Global Paytech". www.businesstoday.in.
  27. ↑ "Infibeam set to merge payment gateway firm CCAvenue with itself". Techcircle. 14 February 2017.
  28. ↑ Dutta, Vishal. "Infibeam acquires cloud ERP solutions provider DRC Systems". The Economic Times.
  29. ↑ "Infibeam acquires digital marketing firm ODigMa for $5 mn". Business Standard India. 24 February 2014.
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