Infibeam Avenues to acquire 54% stake in Rediff.com

This marks the beginning of Infibeam Avenues' digital financial services as an aggregator.

Gujarat-based Infibeam Avenues announced that it has agreed to acquire a 54% stake in Rediff.com. This marks the beginning of its consumer-facing digital financial service as an aggregator. Infibeam plans to synergize its various digital payment services, platform business offerings, and AI solutions with Rediff.com’s services, creating a comprehensive digital environment where financial transactions and content consumption coexist. This integration is expected to enhance user engagement and open new revenue streams.

According to reports, the internally funded acquisition is valued at approximately Rs.50 crore.

Rediff has a substantial user base and data assets and ranks amongst the top 1000 sites globally in traffic with more than 55 million monthly visitors, providing valuable insights into user behaviour, preferences,
and spending patterns. Rediff.com’s user base offers fertile ground for cross-selling financial products using artificial intelligence such as loans, insurance, and investment products. RediffMONEY can use the platform to promote these services, increasing product uptake and offer customer lifetime value.

Infibeam plans to diversity its portfolio offering by synergizing with Rediff.com's portfolio - enterprise email to merchants, consumer financial services and content businesses, which will open up new revenue
stream for the company. This will also enhance footprint in the digital economy for the company, backed by its regulatory capabilities.

Infibeam has a strong in-house regulatory compliance capability due to its decades of experience operating digital payment gateway business, CCAvenue. Infibeam has Reserve Bank of India (RBI) regulatory authorization to operate as a Payment Aggregator under the Payment Settlement Act, 2007, and a perpetual license from the RBI for its bill payment business, Bill Avenue, to operate as a Bharat Bill Payment Operation Unit (BBPOU) under Bharat Bill Payment System (BBPS).

In the international arena, the company’s international subsidiary, Infibeam Avenues Saudi Arabia became the first Indian fintech player to secure PTSP Certification from the Saudi Arabian Monetary
Authority (SAMA), allowing it to operate as a Payment Processor (PTSP) in the Kingdom of Saudi Arabia (KSA).

By harnessing iunherent strengths of Rediff.com, along with its organic traction among its news audiences and its dominance with 5,000+ corporate email clients, Infibeam plans to amplify its business growth
across its product and service offerings in both domestic and international markets.

“This majority stake signifies a pivotal step towards amplifying the company’s products and services adding that the company expects to witness double-fold revenue growth with its entry into the financial
sector as an aggregator in coming quarters” reiterated Mehta. Recently, Rediff reported revenues of INR 360 Million in FY23-24.