Fintech company Infibeam Avenues has acquired a 54% stake in Rediff.com India Ltd. This acquisition, funded internally, marks a significant step for Infibeam Avenues as it ventures into consumer-facing digital financial services, leveraging Rediff.com’s established platform for news, cloud-based enterprise email storage, and collaboration.
According to Infibeam Avenues, this majority stake will enhance its product and service offerings. The company anticipates significant revenue growth in the coming quarters as it enters the financial sector as an aggregator.
Infibeam aims to leverage Rediff.com’s strengths, including its substantial organic traction among news audiences and its portfolio of over 5,000 corporate email clients. This strategic move is expected to bolster business growth in both domestic and international markets.
Founded in 1996 by Ajit Balakrishnan, Rediff.com offers a variety of services, including cloud-based enterprise email storage, content distribution, and related commerce services. It boasts a considerable user base and data assets, ranking among the top 1,000 global sites in traffic with over 55 million monthly visitors. This extensive user base provides valuable insights into consumer behavior, preferences, and spending patterns, enabling cross-selling opportunities for financial products such as loans, insurance, and investments using artificial intelligence.
Infibeam Avenues specializes in digital payment gateways (CCAvenue), enterprise software platforms, and AI solutions for businesses and government entities. The company also provides a digital banking suite for corporations and SMEs, money transfer solutions for banks and businesses, and correspondent banking services for unbanked individuals.
