Infibeam Avenues, a prominent player in the fintech sector, has made a strategic move by acquiring a 54% majority stake in Rediff.com India Ltd. This acquisition, financed internally, marks Infibeam’s entry into consumer-facing digital financial services, leveraging Rediff.com’s established presence in news, cloud-based enterprise email storage, and collaboration platforms.
This significant investment aligns Infibeam Avenues with its vision to enhance its product and service offerings. The company anticipates substantial revenue growth in the coming quarters, driven by its new role as an aggregator in the financial sector. Infibeam aims to capitalize on Rediff.com’s existing audience and infrastructure to expand its reach both domestically and internationally.
Rediff.com, founded in 1996 by Ajit Balakrishnan, has a diverse portfolio that includes cloud-based enterprise email storage, content distribution, and commerce services. It boasts a robust user base, with over 55 million monthly visitors, and ranks among the top 1,000 global sites in traffic. This extensive user base provides Infibeam with valuable data insights into user behaviour and preferences, enabling the potential cross-selling of financial products such as loans, insurance, and investments using artificial intelligence.
Infibeam Avenues, known for its digital payment gateway CCAvenue, enterprise software platforms, and AI solutions, is well-positioned to integrate Rediff.com’s assets into its broader digital strategy. The fintech company offers a suite of digital banking services, money transfer solutions, and correspondence banking services, which are expected to be augmented by this acquisition
