A 54% interest in Rediff.com India Ltd. has been acquired by the fintech business Infibeam Avenues. With the help of this internally funded acquisition, Infibeam Avenues will launch its consumer-facing digital financial solution as an aggregator supported by a platform for collaboration, cloud-based enterprise email storage, and mainstream news.
Infibeam Avenues states that acquiring the majority interest will be a step toward expanding its offerings and that it anticipates double-digit revenue growth as a result of its upcoming debut as an aggregator into the banking industry.
Rediff.com’s organic traction among its news consumers, which boast over 5,000 corporate email clients, will be leveraged by Infibeam to leverage the platform’s strengths and propel business growth across its product and service offerings in both local and foreign markets.
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Rediff.com, which was founded in 1996 by Ajit Balakrishnan, offers a wide range of services, such as content distribution, cloud-based enterprise email storage, and associated commerce services that give a vast digital platform. With over 55 million monthly visits, it is ranked among the top 1,000 websites worldwide in traffic and boasts a sizable user base and data assets.
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It offers insightful information about the buying habits, interests, and behavior of its users. Using artificial intelligence, the user base of the company provides cross-selling services for financial products like investing, insurance, and loan products.
Infibeam Avenues offers enterprise software platforms, AI solutions, and digital payment gateways (CCAvenue) to a range of commercial and governmental clients. Additionally, it provides money transfer services for banks and enterprises, a correspondence banking suite for unbanked persons, and digital banking solutions for corporates and SMEs.
About Infibeam Avenues
Infibeam Avenues Limited specializes in payment infrastructure and software as a service. It offers digital payment services, eCommerce platforms, digital loans, cloud storage for data, and omnichannel enterprise software to companies in India and beyond.
About Rediff.Com
Rediff.com is an Indian news, information, entertainment, and shopping website. The first Indian mainstream news media website, founded by Ajit Balakrishnan in 1996. Mumbai hosts Rediff.com, which has operations in Bangalore, New Delhi, and NYC.
