Infibeam Avenues, which owns the payment gateway CCAvenue, announced on Friday that it will buy a 54% share in the news website Rediff.com India as part of its expansion into consumer-facing digital financial services as an aggregator. With the acquisition of a share in Rediff valued at around Rs 25 crore, the company intends to develop its payment aggregator business, which will be supported by the news website's cloud-based enterprise email storage and collaboration platform. Infibeam intends to integrate its digital payment services, platform business offerings, and artificial intelligence solutions with Rediff.com's services. This would allow the organization to establish a digital environment for financial transactions and content consumption.
It is expected to increase user engagement on the site and open up new income opportunities. "We are well-positioned to establish ourselves as a leader in the rapidly changing field of digital financial aggregation, cloud storage, and content distribution. With this collaboration, we are prepared to unlock new dimensions of growth while reinventing the essence of cloud and fintech interaction," stated Vishal Mehta, Chairman and Managing Director at Infibeam Avenues. Rediff's website receives approximately 55 million monthly visitors, providing Infibeam Avenues with insights on user behavior, preferences, and spending habits, allowing the Gandhinagar-based fintech startup to cross-sell financial services such as loans, insurance, and investment goods.
"I am thrilled to hand over this renowned brand and its history to Vishal Mehta, Infibeam Avenues. I am confident that the new Rediff under his leadership will strengthen the company and accelerate business growth," stated Ajit Balakrishnan, chairman and CEO of Rediff.com.
According to a statement from RediffMONEY, the platform may be used to market these services, improving product adoption and providing client lifetime value. Fintech Infibeam Avenues will acquire a 54% share in news portal Rediff.com. Infibeam Avenues, which owns the payment gateway CCAvenue, announced on Friday that it will buy a 54% share in the news website Rediff.com India as part of its expansion into consumer-facing digital financial services as an aggregator.
With the acquisition of the interest in Rediff, valued at around Rs 25 crore, the company hopes to extend its payment aggregator business using the news website's cloud-based enterprise email storage and collaboration platform. Infibeam intends to integrate its digital payment services, platform business offerings, and artificial intelligence solutions with Rediff.com's services. This would allow the organization to establish a digital environment for financial transactions and content consumption. It is expected to increase user engagement on the site and open up new income opportunities.
"We are well-positioned to establish ourselves as a leader in the rapidly changing field of digital financial aggregation, cloud storage, and content distribution. With this collaboration, we are prepared to unlock new dimensions of growth while reinventing the essence of cloud and fintech interaction," stated Vishal Mehta, chairman and managing director of Infibeam Avenues.
Rediff's website receives approximately 55 million monthly visitors, providing Infibeam Avenues with insights on user behavior, preferences, and spending habits, allowing the Gandhinagar-based fintech startup to cross-sell financial services such as loans, insurance, and investment goods. "I am thrilled to place this renowned company and its heritage in the skilled hands of Vishal Mehta, Infibeam Avenues.
"I am confident that the new Rediff under his leadership will strengthen the company and accelerate business growth," stated Ajit Balakrishnan, Chairman and CEO at Rediff.com. According to a statement from RediffMONEY, the platform may be used to market these services, improving product adoption and providing client lifetime value.
