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{{short description|Indian e-commerce website}} {{Short description|Indian financial technology company}}
{{COI|date=March 2020}}
{{Use dmy dates|date=March 2016}} {{Use dmy dates|date=March 2016}}
{{Use Indian English|date=November 2015}} {{Use Indian English|date=November 2015}}
{{Infobox company {{Infobox company
| name = Infibeam Avenues Limited | name = Infibeam Avenues Limited
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| revenue = {{INR}}300 crores/{{INR}}3 billion<ref name="Umarji">{{cite news|last=Umarji|first=Vinay|title=Infibeam to foray into UAE market|url=http://www.business-standard.com/article/companies/infibeam-to-foray-into-uae-market-113110101033_1.html|access-date=6 November 2013|newspaper=Business Standard|date=1 November 2013}}</ref>
| founded = {{Start date and age|2007||}}
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| founder = Vishal Mehta
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'''Infibeam Avenues Limited''' is an ]n company that offers digital payments, ] and internet services. The company was founded in 2007 and is headquartered in ], India. In 2019, its consumer ecommerce website Infibeam.com was acquired by Suvidhaa Infoserve and now operates as Suvideals].<ref>{{cite web |last1=Dutta |first1=Vishal |title=Fintech firm Suvidhaa plans e-commerce foray |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/fintech-firm-suvidhaa-plans-e-commerce-foray/articleshow/70732595.cms |website=] |date=19 August 2019}}</ref><ref>{{cite web |title=Migration Message |url=https://www.suvideals.ooo/static/help/migration_message.pdf |website=Suvideals.ooo }}</ref> '''Infibeam Avenues Limited''' is an ] ] company that provides digital payment services, ], digital lending, data ] and omnichannel enterprise software to businesses across industries in ] and globally.<ref>{{cite web |last1=Dutta |first1=Vishal |title=Fintech firm Suvidhaa plans e-commerce foray |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/fintech-firm-suvidhaa-plans-e-commerce-foray/articleshow/70732595.cms |website=] |date=19 August 2019}}</ref><ref>{{cite web |title=Migration Message |url=https://www.suvideals.ooo/static/help/migration_message.pdf |website=Suvideals.ooo }}</ref><ref>{{cite web |title=Infibeam's BillAvenue adds 1 million agents; targets reaching 5 million agents by 2025 |url=https://economictimes.indiatimes.com/industry/services/retail/infibeams-billavenue-adds-1-million-agents-targets-reaching-5-million-agents-by-2025/articleshow/98455217.cms |website=The Economic Times |date=6 March 2023}}</ref>


Through its flagship brand, CCAvenue, the business is present in the payment infrastructure market, processing more than {{currency|86|USD}} ] in online payments.<ref>{{cite web |title=Infibeam Avenues Unveils CCAvenue SoundBox Max, A Next-Generation Payment Solution for Merchants - Indian Startup Times |url=https://indianstartuptimes.com/news/infibeam-avenues-unveils-ccavenue-soundbox-max-a-next-generation-payment-solution-for-merchants/ |website=Indianstartuptimes |date=3 September 2024}}</ref> Infibeam Avenues claims to have more than 10 million merchants on its platform. It also operates in overseas markets like the ], ], the ], and ].<ref>{{cite web |title=Infibeam Avenues Ltd deepens its reach in digital payments |url=https://www.equitybulls.com/category.php?id=324843 |website=EquityBulls |date=4 January 2023}}</ref>
Infibeam has offices in ], ], ] and ].<ref>{{cite news| url=http://articles.economictimes.indiatimes.com/2013-05-09/news/39144066_1_e-tailer-industry-myntra-com | work=The Times Of India | title=Ahmedabad-based e-tailer Infibeam to increase headcount by 2015 | date=9 May 2013}}</ref><ref>{{cite web|last=Rai|first=Anand|title=How E-com Firm Infibeam Is Managing Without External Funding|url=http://techcircle.vccircle.com/500/how-e-com-firm-infibeam-is-managing-without-external-funding/|work=techcircle.in|access-date=25 April 2012}}</ref> The company became India's first ] company to file an ], in July 2015.<ref>{{cite news|last1=REUTERS|title=Infibeam files for IPO in first ecommerce listing |url=http://in.reuters.com/article/2015/07/01/infibeam-ipo-idINKCN0PB3R420150701|newspaper=Reuters|date=July 2015 }}</ref><ref>{{cite web|url=http://profit.ndtv.com/news/corporates/article-infibeam-files-for-ipo-in-first-e-commerce-listing-777076 |title=Infibeam Files for IPO in Indias First E-Commerce Listing – NDTVProfit.com |publisher=Profit.ndtv.com |date=1 July 2015 |access-date=31 January 2016}}</ref><ref>{{cite web|url=http://timesofindia.indiatimes.com/business/india-business/IndiGo-and-Infibeam-file-for-Rs-3000-crore-IPOs/articleshow/47888578.cms |title=IndiGo and Infibeam file for Rs 3,000 crore IPOs – Times of India |publisher=Timesofindia.indiatimes.com |date=1 July 2015 |access-date=31 January 2016}}</ref>

{{TOC limit|3}}
It is headquartered in ], ], India with offices in ], ] and ].<ref name="S. Prem Kumar">{{cite web|last=S. Prem Kumar|title=Infibeam's double-edged strategy|url=http://www.thesmartceo.in/magazine/growth-enterprise/infibeams-double-edged-strategy.html|publisher=The Smart CEO|access-date=29 April 2013}}</ref>


== History == == History ==
Infibeam Avenues was established in 2007 by Vishal Mehta.<ref>{{cite news|last1=Suresh P. Iyengar|title=No competitors here, all are partners|url=http://www.thehindubusinessline.com/industry-and-economy/no-competitors-here-all-are-partners/article5207103.ece|access-date=8 December 2014|publisher=The Hindu Business Line|date=6 October 2013}}</ref> The company was listed on the ] and the ] in 2016.


It provides its marketplace software platform, BAB, to two of India's four largest eCommerce organisations – ] and ].<ref>{{cite web |title=Infibeam enters into an agreement with Reliance Jio for its enterprise solutions |url=https://www.moneycontrol.com/news/business/infibeam-enters-into-an-agreement-with-reliance-jio-for-its-enterprise-solutions-5925751.html |website=Moneycontrol |date=5 October 2020 |language=en}}</ref><ref name='IT'>{{cite news |last1=Suneja |first1=Kirtika |last2=Agarwal |first2=Surabhi |title=Intellect, Infibeam bag contract for government marketplace |url=https://economictimes.indiatimes.com/tech/ites/intellect-infibeam-bag-contract-for-government-marketplace/articleshow/59745255.cms |work=The Economic Times}}</ref>
Infibeam was founded in 2007 by Vishal Mehta, a ] and ] alumnus.<ref>{{Cite web|url=https://www.bloomberg.com/profile/person/18938097|title=Vishal Mehta, Infibeam Avenues Ltd: Profile and Biography|website=Bloomberg.com|language=en|access-date=2019-07-16}}</ref> After working for ] and ] in the United States for five years, Mehta returned to India in 2007 and started Infibeam along with a group of Amazon employees.<ref name=ET2010>{{cite news|last=Sruthijith KK|title=Indian innovation to give Amazon's Kindle run for its money|url=http://articles.economictimes.indiatimes.com/2010-01-28/news/27605669_1_ebooks-e-book-reader-physical-books|access-date=29 April 2013|newspaper=The Economic Times|date=28 January 2010}}</ref><ref name="silicon" /> He funded the company by selling his personal assets rather than opting for external ].<ref>{{cite web|last=S. Prem Kumar|title=Infibeam's double-edged strategy|url=http://www.thesmartceo.in/magazine/growth-enterprise/infibeams-double-edged-strategy.html|publisher=The Smart CEO|access-date=29 April 2013}}</ref> The company was started with an initial capital of {{INR}}100-150 million.<ref>{{cite news|last1=Suresh P. Iyengar|title=No competitors here, all are partners|url=http://www.thehindubusinessline.com/industry-and-economy/no-competitors-here-all-are-partners/article5207103.ece|access-date=8 December 2014|publisher=The Hindu Business Line|date=6 October 2013}}</ref> Infibeam.com started as an automobile portal in 2007, but later turned into an online retailer.<ref>{{cite web|last=Pahwa|first=Nikhil|title=Confirmed: Infibeam Acquires Picsquare.com|url=http://www.medianama.com/2008/11/223-confirmed-infibeam-acquires-picsquarecom/|work=MediaNama|access-date=29 April 2013}}</ref> In 2010, Infibeam launched 'Pi', India's first e-book reader<ref>{{cite news|title=India gets 2nd e-book reader Wink XTS|url=http://timesofindia.indiatimes.com/business/india-business/India-gets-2nd-e-book-reader-Wink-XTS/articleshow/6358386.cms|access-date=18 January 2017|newspaper=The Times of India|date=20 August 2010}}</ref><ref>{{cite news|last=Juneja|first=Manjari|title=e-book readers: the Indian angle|url=http://computer.financialexpress.com/20100531/newsanalysis01.shtml|archive-url=https://archive.is/20130629051143/http://computer.financialexpress.com/20100531/newsanalysis01.shtml|url-status=dead|archive-date=29 June 2013|access-date=3 May 2013|newspaper=Express Computer – Financial Express|date=31 May 2010}}</ref> and later launched its successor Pi2, and a media device, Infibeam Phi.

=== Acquisitions ===

In 2008, Infibeam acquired Picsquare.com, a personalised photo printing website. In 2014, it acquired Odigma, a digital marketing company, for {{US$|5{{nbsp}}million|link=yes}}.<ref>{{cite news|last=Pandit|first=Virendra|title=Infibeam acquires digital marketer ODigMa for $5 mn|url=http://www.thehindubusinessline.com/companies/infibeam-acquires-digital-marketer-odigma-for-5-mn/article5722504.ece|access-date=2 March 2014|newspaper=The Hindu Business Line|date=24 February 2014}}</ref> In 2017, it signed a Memorandum of Understanding (MOU) to acquire DRC Systems, a provider of enterprise ERP solutions and customized software for e-commerce applications.

In 2017, Infibeam merged with CCAVenue, India's largest payment gateway by transactions, in a deal that valued the payment gateway at $289 million.<ref>{{cite news|last=Shruti|first=Jain|title=Infibeam set to merge payment gateway firm CCAvenue with itself|url=http://techcircle.vccircle.com/2017/02/14/infibeam-set-to-merge-payment-gateway-firm-ccavenue-with-itself/|access-date=13 June 2017| date=14 February 2017}}</ref>

In May 2018 Infibeam Inc. acquired 100% shareholding of Vavian International Ltd.<ref name="indiainfoline.com">{{Cite news|url=https://www.indiainfoline.com/article/news-top-story/infibeam-to-acquire-dubai-based-payment-gateway-service-provider-118052100031_1.html|title=Infibeam to acquire Dubai-based payment gateway service provider|last=indiainfoline.com|access-date=2018-06-11|language=en}}</ref> The deal was valued $1.17 million,<ref>{{Cite web|url=https://www.owler.com/reports/infibeam/infibeam--e-tailer-infibeam-buys-uae-based-digital/1526934601579|title=Owler Reports - Infibeam: E-tailer Infibeam buys UAE-based digital payments firm|website=www.owler.com|access-date=2018-06-11}}</ref> this made Vavian International a direct subsidiary of Infibeam Global EMEA FZ-LLC, a subsidiary of Infibeam Incorporation Ltd.<ref>{{Cite news|url=https://www.vccircle.com/e-tailer-infibeam-buys-uae-based-digital-payments-firm/|title=E-tailer Infibeam buys UAE-based digital payments firm|date=2018-05-21|work=VCCircle|access-date=2018-06-11|language=en-US}}</ref> In June 2020, Ravi Omprakash Agrawal became the largest individual shareholder in Infibeam Avenues Limited.<ref>{{Cite news|title=NSE-BSE bulk deals: Ravi Agrawal raises stake in Infibeam Avenues|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/news/nse-bse-bulk-deals-ravi-agrawal-raises-stake-in-infibeam-avenues/articleshow/77203693.cms|access-date=2020-09-21}}</ref>
=== Partnership ===
In October 2020, the company signed a deal to license its e-commerce and payment software to ], ]'s digital platform venture.<ref>{{cite news |title=Infibeam Avenues signs deal to license ecommerce and payment software to Jio Platforms |url=https://economictimes.indiatimes.com/markets/stocks/news/infibeam-avenues-signs-deal-to-license-ecommerce-and-payment-software-to-jio-platforms/articleshow/78498722.cms |publisher=] |date=October 5, 2020|access-date=2020-10-11}}</ref> In 2017, Infibeam and its other partners received a contract to manage the Government e-Marketplace (GeM) portal.<ref>{{cite news |last1=Suneja |first1=Kirtika |last2=Agarwal |first2=Surabhi |title=Intellect, Infibeam bag contract for government marketplace |url=https://economictimes.indiatimes.com/tech/ites/intellect-infibeam-bag-contract-for-government-marketplace/articleshow/59745255.cms |publisher=] |date=July 25, 2017|access-date=2020-10-11}}</ref>

===Financials and fall in share price===
Though the company had posted healthy profits after taxes in the previous two financial years, the company posted a net profit after tax of less than 1.2 crores in FS 2016–17.<ref>{{cite book |title=Annual report 2016-17 |date=1 November 2017 |publisher=Infybeam |location=Gandhinagar }}</ref> However this did not prevent its share price from continuing to soar up in 2017 and 2018 as stock analysts continued to forecast high share prices. Finally, on 29 September 2018, the company's share price crashed by 70%, from Rs. 212 in the previous week to Rs. 53.8, after a whatsapp message circulated sparking rumours of the company's poor financial health.<ref>{{cite news |title=Infibeam shares nosedive 70% ahead of AGM |url=https://www.livemint.com/Money/qNAPE6jgc85gfHPtNNFozL/Infibeam-shares-nosedive-over-57-ahead-of-AGM.html |access-date=29 September 2018 |publisher=Live Mint |date=29 September 2018}}</ref>

== Businesses ==

Infibeam's businesses include e-commerce platform software service through 'buildabazaar.com', digital Payments, domain names and other internet services. The turnover of the company was reported to be {{INR}}10 billion as of November 2013.<ref name="Umarji" /><ref>{{cite news|last=Rohin Dharmakumar|title=How the Rise of Third Party Marketplaces can Alter Indian E-Commerce|url=http://forbesindia.com/article/real-issue/how-the-rise-of-third-party-marketplaces-can-alter-indian-ecommerce/35209/4|access-date=10 June 2013|newspaper=Forbes India|date=13 May 2013}}</ref>

=== Digital Payments ===
Infibeam invested $8.9 million in payment gateway CCAvenue in 2016. In Feb 2017, it announced further investment and likely merger with CCAvenue. In May 2018, Infibeam Inc invested $1.17 million acquiring the 100% stake in Vavian International Ltd, a UAE-based payment gateway. Vivian claims to process of about 2,500 transactions with a transaction value of AED 2 million.<ref name="indiainfoline.com" />

=== Online retailing ===

Infibeam.com, the online retail website of the company, sells books, electronics and lifestyle products.<ref>{{cite news|title=Inside Indian e-commerce Bazaar|url=http://articles.timesofindia.indiatimes.com/2010-10-22/strategy/28266116_1_e-commerce-e-book-reader-firm|access-date=29 April 2013|newspaper=The Times of India|date=22 October 2010}}</ref> The website has a selection of 12 million products across books, electronics, lifestyle, gifts and media.<ref name="silicon">{{cite web|title=Infibeam Expands Logistics To Mumbai And Bangalore|url=http://www.siliconindia.com/shownews/Infibeam_Expands_Logistics_To_Mumbai_And_Bangalore-nid-101554-cid-100.html|work=SiliconIndia|access-date=10 August 2013}}</ref> In 2011, the company established Infibeam Logistics, its own logistics arm in major Indian cities.<ref>{{cite web|last=Nandana Das|title=Infibeam Logistics Expands Operations To Mumbai & Bangalore|url=http://techcircle.vccircle.com/2011/12/26/infibeam-logistics-forays-in-mumbai-and-bangalore/|work=techcircle.in|access-date=4 May 2013|date=26 December 2011}}</ref> In September 2010, infibeam was among ]'s ''Top 5 Digital Brands'' in the e-commerce category.<ref>{{cite web|url=http://articles.economictimes.indiatimes.com/2010-09-01/news/27615919_1_yahoo-indiatimes-linkedin |title=Top Digital Brands – category-wise – timesofindia-economictimes |website=Articles.economictimes.indiatimes.com |access-date=31 January 2016}}</ref> Infibeam's acquisition of customer base at very low cost has been recorded as a B-school case study by ].<ref>{{cite news|last=Shramana Ganguly|title=B-schools to teach Infibeam.com case study|url=http://articles.economictimes.indiatimes.com/2013-03-21/news/37903280_1_case-study-b-schools-b-schools|access-date=18 August 2013|newspaper=The Economic Times|date=21 March 2013}}</ref> Infibeam is the only authorised online seller of ]s in India.<ref>{{cite news|last1=Aulakh|first1=Gulveen|title=Offline retailers may boycott iPhone 6 as iPhone 5S being offered at discounted prices on e-commerce sites |url=http://economictimes.indiatimes.com/tech/hardware/offline-retailers-may-boycott-iphone-6-as-iphone-5s-being-offered-at-discounted-prices-on-e-commerce-sites/articleshow/43755847.cms|access-date=29 September 2014|publisher=The Economic Times|date=29 September 2014}}</ref><ref>{{cite web|title=Apple Catalogue & Internet Resellers|url=https://www.apple.com/in/buy/catalogresellers/|website=Apple.com|access-date=7 October 2014}}</ref> It also owns Picsquare.com, a digital photo printing and personalised gifts website.<ref>{{cite web|title=Meet the man who launched Picsquare|url=http://www.rediff.com/money/report/iit-mlook-meet-the-man-who-launched-picsquare/20090319.htm|website=Reddiff|access-date=21 March 2015}}</ref>

=== E-commerce platform ===


On 7 September 2022, Infibeam Avenues launched its omni-channel mobile app CCAvenue TapPay that allows businesses and entrepreneurs to convert any NFC-enabled ] into smart PoS terminals.<ref>{{cite news |title=Infibeam Avenues launches mobile app with TapPay feature |url=https://economictimes.indiatimes.com/tech/technology/infibeam-avenues-launches-mobile-app-with-tappay-feature/articleshow/92578241.cms |website=The Economic Times|date=30 June 2022 }}</ref>
Buildabazaar is a Saas platform built by Infibeam with operations in India and MiddleEast. The company initially extended its e-commerce platform to build online stores for ], TTK Prestige<ref>{{cite news|title=TTK Prestige Announces e-Commerce Alliance with Infibeam.com|url=http://economictimes.indiatimes.com/cmpnewsdisp.cms?companyid=8711&newsid=334825|access-date=5 May 2013|newspaper=The Economic Times|date=21 January 2010}}</ref> and Crossword Bookstores<ref>{{cite web|last=S. Prem Kumar|title=Infibeam's double-edged strategy|url=http://www.thesmartceo.in/magazine/growth-enterprise/infibeams-double-edged-strategy.html|work=The Smart CEO|access-date=4 May 2013}}</ref> and NDTV Shopping<ref>{{cite web|url=http://ecommwire.com/?id=42197 | title=Infibeam.com & NDTV Enter Into eCommerce Alliance |access-date=15 June 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110929032040/http://ecommwire.com/?id=42197 |archive-date=29 September 2011 }}</ref><ref>{{cite web|url=http://www.efytimes.com/e1/45601/fullnews.htm |title=Hidesign Website Uses Infibeam.com's Technology Platform |website=Efytimes.com |date=19 May 2010 |access-date=31 January 2016 |url-status=dead |archive-url=https://web.archive.org/web/20141006153736/http://www.efytimes.com/e1/45601/fullnews.htm |archive-date=6 October 2014 }}</ref> In 2011, the e-commerce platform was opened to everyone through Buildabazaar, which allows users to create their own web store.<ref>{{cite web|title=Infibeam launches 'Build a Bazaar' to help create own online store brand|url=http://www.siliconindia.com/shownews/Infibeam_launches_Build_a_Bazaar_to_help_create_own_online_store_brand-nid-83974-cid-100.html|work=Siliconindia.com|access-date=17 April 2012}}</ref> Buildabazaar was awarded ‘The Game Changing Idea of The Year’ Award by The Economic Times at ET RETAIL AWARD 2014.<ref>{{cite news|last1=Suman Pokhiyal|title=Infibeam is conferred with 'The Game Changing Idea of The Year' Award by The Economic Times at ET RETAIL AWARD -2014|url=http://www.itvoice.in/index.php/it-magazine/infibeam-is-conferred-with-the-game-changing-idea-of-the-year-award-by-the-economic-times-at-et-retail-award-2014|access-date=1 October 2014|date=7 April 2014}}</ref> The platform was launched in the ] region in 2014. It has 30,000 stores as of March 2015.<ref>{{cite news|title=Second Coming|url=http://businesstoday.intoday.in/story/infibeam-vishal-mehta-ecommerce-comeback-with-buildabazaar/1/216634.html|access-date=21 March 2015|publisher=Business Today}}</ref>
The company announced in 2018, that its ecommerce business had achieved break even point and its consolidated net profit grew by 53%<ref>{{cite news|title=Will Scale Up e-commerce biz when revenue is assured infibeam ceo visha Coming|url=https://www.techcircle.in/2018/06/18/will-scale-up-e-commerce-biz-when-revenue-is-assured-infibeam-ceo-vishal-mehta|access-date=18 June 2018|publisher=Techcircle}}</ref>


In August 2024, Infibeam Avenues Ltd. acquired a 54.1% stake in internet business firm ] Post-acquisition, Rediff.com became a subsidiary of Infibeam Avenues.<ref name="TBL">{{cite web |title=Infibeam Avenues acquires 54.1% stake in Rediff.com for ₹50 crore |url=https://www.thehindubusinessline.com/info-tech/infibeam-avenues-acquires-541-stake-in-rediffcom-for-25-crore/article68477073.ece |website=BusinessLine |language=en |date=2 August 2024}}</ref>
=== ThemeJungle ===
The theme store- ThemeJungle<ref>{{Cite web|url=https://www.themejungle.ooo/|title=Ecommerce Website Templates & Themes Online, Premium & Free Themes Store|website=www.themejungle.ooo|language=en|access-date=2018-06-09}}</ref> is subsidiary of BuildaBazaar. The website launched in January 2018 to support BuildaBazaar stores. It is a marketplace of various themes designed by professional designers. Until May 2018, ThemeJungle has uploaded over one hundred free premium themes.


Vishal Mehta, the founder of Infibeam, has assumed the role of Chairman and Managing Director of ]. He succeeds ], who has directed the corporation since its inception in 1996. The leadership transition occurs subsequent to Infibeam Avenues Ltd's acquisition of a controlling interest in ].<ref>{{cite web |title=Infibeam founder Vishal Mehta becomes Rediff’s new Chairman and Managing Director |url=https://www.businesstoday.in/technology/internet/story/infibeam-founder-vishal-mehta-becomes-rediffs-new-chairman-and-managing-director-448785-2024-10-04 |website=Business Today |language=en |date=4 October 2024}}</ref>
=== Music streaming platform ===


== Services ==
Infibeam Digital Entertainment (INDENT), a subsidiary of Infibeam established in 2012, builds Music Streaming and Download Platform solutions for Music Labels, Brands and OEMs.<ref>{{cite news|last1=Vikas SN|title=Infibeam Launches Indent Platform For Digital Music Services; Partners Sony Music India|url=http://www.medianama.com/2012/11/223-infibeam-launches-indent-platform-for-digital-music-services-partners-sony-music-india/|access-date=30 September 2014|agency=MediaNama}}</ref> In 2013, the company built Sony Music's Jive HD streaming and downloading app embedded in Sony's Xperia smartphones.<ref>{{cite news|last1=Brindaalakshmi K|title=Infibeam's Indent Powers Sony Music Jive Service For Xperia for all Phones|url=http://www.medianama.com/2013/03/223-sony-music-jive-xperia/|access-date=30 September 2014|agency=MediaNama}}</ref>
=== Payment Processing ===
Infibeam provides a digital payment gateway service through CCAvenue. The CCAvenue Payment Gateway offers multiple payment options, supports 18 different languages, and facilitates transactions in 27 major foreign currencies. It also establishes a secure link between websites, institutions, and banks during transactions.


CCAvenue's 'TokenPay' help merchants to comply with the ]'s data security norms by securing multi-network tokenisation, which works across major card networks, including ], ], and ].<ref>{{cite web |last1=Umarji |first1=Vinay |title=Infibeam's CCAvenue starts TokenPay to help merchants comply with RBI norms |url=https://www.business-standard.com/article/markets/infibeam-s-ccavenue-starts-tokenpay-to-help-merchants-comply-with-rbi-norms-121110400347_1.html |website=Business-standard.com |language=en |date=4 November 2021}}</ref>
=== Digital marketing services ===


The Reserve Bank of India had granted Infibeam Avenues "in-principle" authorisation to operate as a Payment Aggregator (PA) under the brand CCAvenue, to allow a wide range of online and offline transactions. Payment aggregators allow e-commerce platforms and merchants to accept a variety of payment methods from customers, simplifying the payment process and removing the need for merchants to design their own payment integration system.<ref>{{cite web |title=Infibeam Avenues receives RBI in-principle nod for payment aggregator licence |url=https://economictimes.indiatimes.com/tech/tech-bytes/infibeam-avenues-receives-rbis-in-principle-nod-for-payment-aggregator-licence/articleshow/95128521.cms |website=The Economic Times |date=27 October 2022}}</ref>
The company offers ] Services through its subsidiary ODIGMA, which it acquired in 2014.<ref>{{cite news|last1=Priyanka Sahay|title=Infibeam.com now enables link-offs to third party merchant sites for completing sales|url=http://techcircle.vccircle.com/2014/08/07/infibeam-com-now-enables-link-offs-to-third-party-merchant-sites-for-completing-sales/|access-date=6 February 2015|publisher=Tech Circle|date=7 August 2014}}</ref> ODIGMA employs serves digital marketing campaigns for brands.<ref>{{cite news|last1=Amit Shanbaug|title=Advit Sahdev's ODigMa: A Rs 6 crore online marketing company built from Rs 2 lakh|url=http://articles.economictimes.indiatimes.com/2013-11-11/news/43930047_1_2-lakh-rs-35-lakh-rs-15-crore|access-date=6 February 2015|publisher=The Economic Times|date=11 November 2013}}</ref>


The ] has granted Infibeam Avenues Limited, India's first publicly traded fintech startup, a permanent licence for its bill payments platform, BillAvenue. BillAvenue can use this licence to operate as a Bharat Bill Payment Operating Unit (BBPOU) under the Bharat Bill Payment System (BBPS). BillAvenue functions as both a biller and a customer operating unit as a BBPOU, easing the onboarding of Billers and Agent Institutions to service clients.<ref>{{cite web |title=Infibeam Avenues announces perpetual renewal of 'Bharat Bill Payment' license by RBI |url=https://www.cnbctv18.com/personal-finance/infibeam-avenues-announces-perpetual-renewal-of-bharat-bill-payment-license-by-rbi-15511471.htm |website=cnbctv18.com |language=en |date=26 December 2022}}</ref>
=== Generic top level domain name registry ===
{{Main|.ooo}}


=== Merchants Financing/Lending ===
Infibeam owns the license of the ] ']' granted by ] (ICANN). It launched the '.ooo' domain for trademark holders on 22 September 2014.<ref>{{cite news|title=Infibeam to offer '.ooo' for '.com-savvy' netizens|url=http://www.thehindubusinessline.com/features/smartbuy/tech-news/infibeam-to-offer-ooo-for-comsavvy-netizens/article6438980.ece|access-date=29 September 2014|publisher=The Hindu Business Line|date=23 September 2014}}</ref><ref>{{cite news|last1=Mishra|first1=Piyush|title=Ahmedabad firm introduces DOT TRIPPLE O power domain for internet|url=http://timesofindia.indiatimes.com/business/india-business/Ahmedabad-firm-introduces-DOT-TRIPPLE-O-power-domain-for-internet/articleshow/43535537.cms|access-date=29 September 2014|work=The Times of India|date=26 September 2014}}</ref>
Infibeam Avenue has a lending aggregation platform called Trust Avenue. The company has facilitated AI-based lending for 3 million merchants through partnerships with banks and NBFCs.<ref>{{cite web |title=Infibeam Avenues plans AI-based lending for its 3 million merchants through tie-ups with banks, NBFCs |url=https://www.financialexpress.com/industry/sme/msme-fin-infibeam-avenues-plans-ai-based-lending-for-its-3-million-merchants-through-tie-ups-with-banks-nbfcs/2308072/ |website=Financialexpress |date=10 August 2021 |language=en}}</ref>


=== Logistics aggregation platform === === Enterprise ecommerce software platform ===
Infibeam Avenues' enterprise ecommerce software platform BuildaBazaar hosts India's largest online marketplace for government procurement. The company also entered into a definitive agreement with ] to offer its enterprise software licence and enterprise digital payments platform to Jio Platforms and its associates for their internal businesses.<ref>{{cite news|title=TTK Prestige Announces e-Commerce Alliance with Infibeam.com|url=http://economictimes.indiatimes.com/cmpnewsdisp.cms?companyid=8711&newsid=334825|access-date=5 May 2013|newspaper=The Economic Times|date=21 January 2010}}</ref><ref>{{cite web|url=http://ecommwire.com/?id=42197 | title=Infibeam.com & NDTV Enter Into eCommerce Alliance |access-date=15 June 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110929032040/http://ecommwire.com/?id=42197 |archive-date=29 September 2011 }}</ref><ref>{{cite web|url=http://www.efytimes.com/e1/45601/fullnews.htm |title=Hidesign Website Uses Infibeam.com's Technology Platform |website=Efytimes.com |date=19 May 2010 |access-date=31 January 2016 |url-status=dead |archive-url=https://web.archive.org/web/20141006153736/http://www.efytimes.com/e1/45601/fullnews.htm |archive-date=6 October 2014 }}</ref>


On November 20, 2017, Infibeam Avenues launched BillAvenue, an inter-operable digital bill payments platform built over the Bharat Bill Payment System (BBPS) infrastructure to enable service providers to accept bill payments from customers nationwide, through both online and offline channels.<ref>{{cite news |title=Infibeam subsidiary Avenues India launches BillAvenue - ET Retail |url=https://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/infibeam-subsidiary-avenues-india-launches-billavenue/61724316 |work=ETRetail.com |language=en}}</ref>
ShipDroid, a logistics aggregation platform launched in January 2015, to provide uniformity of logistics services to small merchants across all courier partners. The platform covers 20,000 pincodes across 600 cities. The platform lets merchants choose modes of delivery such as surface, rail, or air mode, and can opt for delivery commitment SLAs such as express or regular.<ref>{{cite news|title=Infibeam introduces logistics platform for online merchants|url=http://www.thehindubusinessline.com/features/smartbuy/tech-news/infibeam-introduces-logistics-platform-for-online-merchants/article6838879.ece|access-date=3 February 2015|publisher=Business Line|date=30 January 2015}}</ref><ref>{{cite news|last1=Chitra Unnithan|title=Infibeam introduces logistic platform for merchants|url=http://timesofindia.indiatimes.com/tech/tech-news/Infibeam-introduces-logistic-platform-for-merchants/articleshow/46078197.cms|access-date=3 February 2015|work=The Times of India|date=31 January 2015}}</ref><ref>{{cite web|last1=Vivek Pai|title=Infibeam launches logistics services marketplace ShipDroid|url=http://www.medianama.com/2015/02/223-infibeam-shipdroid/|website=Medianama.com|publisher=MediaNama|access-date=3 February 2015|date=3 February 2015}}</ref>


===Data Centre infrastructure services===
=== Marketplace ===
The company forayed into the segment of infrastructure or data centre-as-a-service, and built a state-of-the-art Tier-III data centre in GIFT City, ]. It received Tier-III design certification from Uptime Institute as it is equipped with fully redundant and dual-powered servers, storage, network links and other IT components.<ref>{{cite web |last1=George |first1=Aaron St |title=Infibeam Avenues receives Tier III Design Certification from Uptime Institute for its Data Center - equitybulls.com |url=https://uptimeinstitute.com/tier-certification/overview/26-news-external/1351-infibeam-avenues-receives-tier-iii-design-certification-from-uptime-institute-for-its-data-center-equitybulls-com |website=uptimeinstitute.com |language=en-gb}}</ref> Infibeam Avenues has partnered with IBM India to develop implement and promote blockchain capabilities on the LinuxOne platform.<ref>{{cite web |title=Infibeam Avenues Limited |url=https://www.ibm.com/case-studies/infibeam-journey-to-cloud |website=ibm.com |language=en-us}}</ref><ref>{{cite web |title=Infibeam Avenues partners with IBM to deploy blockchain solutions in India |url=https://www.techcircle.in/2018/12/21/infibeam-avenues-partners-with-ibm-to-deploy-blockchain-solutions-in-india/ |website=Techcircle |date=21 December 2018}}</ref>


===Artificial Intelligence===
In August 2013, Infibeam launched the e-commerce marketplace Dhamaal.com in association with CCAvenue. Dhamaal has a selection of 1fifteen million products. The website is built on Buildabazaar platform, and is extended as a co-branded marketplace with fifty Indian banks.<ref>{{cite news|title=Indian platform www.dhamaal.com launched for traders|url=http://articles.economictimes.indiatimes.com/2013-08-01/news/40962922_1_merchants-marketplace-products|access-date=2 September 2013|newspaper=The Economic Times|date=1 August 2013}}</ref>
Infibeam Avenues announced its entry into the AI-enabled fraud detection industry on August 8, 2023, with the goal of developing Artificial Intelligence (AI) solutions for authentication, fraud detection, and risk identification in both domestic and worldwide markets. In the beginning, the company will focus on the digital payments and financial industries, employing AI and machine learning algorithms to detect online transaction fraud in real time. Infibeam Avenues also intends to build India's first AI HUB at GIFT City.<ref>{{cite web |last1=Thathoo |first1=Chetan |title=Infibeam To Foray Into Fraud Detection Market With Its AI HUB In GIFT City |url=https://inc42.com/buzz/infibeam-avenues-to-foray-into-fraud-detection-market-with-its-ai-hub-in-gift-city/ |website=Inc42 Media |language=en |date=9 August 2023}}</ref>


=== E-book reader === == Mergers & Acquisitions ==
{| class="wikitable"
In February 2010, Infibeam launched Pi, an ] that uses ] ] technology.<ref name=ET2010 /> Pi has a six-inch screen with eight level grayscale non-backlit display.<ref>{{cite news|last=Pooja Chaturvedi|title=E-book reader for Indian languages|url=http://www.livemint.com/Industry/h19P6edTvcFDJN4vZb76rI/Ebook-reader-for-Indian-languages.html|access-date=6 May 2013|newspaper=Live Mint|date=30 May 2010}}</ref><ref>{{cite news|title=Infibeam Pi: Is this India's killer IT product?|url=http://getahead.rediff.com/slide-show/2010/mar/30/slide-show-1-specials-e-book-reader-pi-is-this-Indias-killer-it-product.htm|access-date=27 October 2015|work=rediff.com|date=30 March 2010}}</ref> The device has the capability to play music files, read ] documents and also supports 13{{nbsp}}Indian languages.<ref name=ET2010 /><ref>{{cite web|last=Poonam Singhal|title=Indian ebook reader : Pi – Kindle's rival|url=http://www.moneymint.in/business/indian-ebook-reader-pi-kindles-rival|archive-url=https://web.archive.org/web/20130529135237/http://www.moneymint.in/business/indian-ebook-reader-pi-kindles-rival|url-status=dead|work=Moneymint.in|archive-date=29 May 2013}}</ref><ref>{{cite news|last=Dhamini Ratnam |title=India serves Amazon, Apple some humble Pi |url=http://www.hindustantimes.com/India-news/Mumbai/India-serves-Amazon-Apple-some-humble-Pi/Article1-504695.aspx |access-date=3 May 2013 |newspaper=Hindustan Times |date=3 February 2010 |url-status=dead |archive-url=https://web.archive.org/web/20141010235641/http://www.hindustantimes.com/India-news/Mumbai/India-serves-Amazon-Apple-some-humble-Pi/Article1-504695.aspx |archive-date=10 October 2014 }}</ref><ref>{{cite news|last=Puneet Mehrotra |title=Desi Ebook Readers in India |url=http://www.hindustantimes.com/News-Feed/ColumnsOthers/Desi-Ebook-Readers-in-India/Article1-616927.aspx |access-date=3 May 2013 |newspaper=Hindustan Times |date=23 October 2010 |url-status=dead |archive-url=https://web.archive.org/web/20130201145631/http://www.hindustantimes.com/News-Feed/columnsothers/Desi-Ebook-Readers-in-India/Article1-616927.aspx |archive-date=1 February 2013 }}</ref> In 2011, Infibeam launched the second version of its ], Pi2.<ref name=Businessline>{{cite news|last=Mahananda Bohidar|title=Reason enough to go digital? Infibeam Pi 2|url=http://www.thehindubusinessline.com/todays-paper/tp-smartbuy/reason-enough-to-go-digital-infibeam-pi-2/article1562891.ece?css=print|access-date=4 May 2013|newspaper=The Hindu Business Line|date=23 March 2011}}</ref> Pi2 is a ] device and has wireless connectivity. They claim the battery power lasts up to 8,000 page reads.<ref name=Businessline /> The company has over 500 thousand ]s on its web store which readers can access from the reader to purchase ]s.<ref>{{cite news|title=Infibeam launches Infibeam Pi2 e-reader|url=http://timesofindia.indiatimes.com/gadgets-special/Infibeam-launches-Infibeam-Pi2-e-reader/articleshow/7602300.cms|access-date=18 January 2017|newspaper=Times of India|date=1 March 2011}}</ref> Infibeam followed the Pi2 with an ] tablet called Phi.<ref>{{cite web|title=Infibeam Phi|url=https://www.youtube.com/watch?v=BFfjC4ANk58|publisher=Youtube.com|access-date=31 January 2016}}</ref>
|-
! Year !! Type !! Company Name !! Notes !! Valuation/Stake !! Cites
|-
| 2024 || Acquisition || ] || Rediff.com is a Mumbai-based internet company, founded in 1996. It provides news and information, enterprise email services and an online digital marketplace. || 54% acquired || <ref name="TBL"/>
|-
| 2024 || Investment || XDuce || XDuce is an enterprise app and AI development company that specialises in building AI solutions for businesses to optimise their internal operations and customer-facing systems. || 20% acquired || <ref>{{cite web |title=Infibeam Avenues Acquires 20% Stake In US-Based AI Development Company XDuce For $10 Mn |url=https://inc42.com/buzz/infibeam-avenues-acquires-20-stake-in-us-based-ai-development-company-xduce-for-10-mn/ |website=Inc42 Media |language=en |date=25 February 2024}}</ref>
|-
| 2023 || Investment || Pirimid Fintech || Pirimid Fintech is a capital markets financial software provider. The company develops customised capital markets and digital lending products, tools, and services to meet the industry's needs, globally. || 49% acquired || <ref>{{cite web |title=Infibeam Avenues picks up 49% stake in Ahmedabad-based Pirimid Fintech |url=https://www.business-standard.com/companies/news/infibeam-avenues-picks-up-49-stake-in-ahmedabad-based-pirimid-fintech-123121400853_1.html |website=Business Standard}}</ref>
|-
| 2022 || Investment || Vishko22 || Vishko22 is a software startup that develops omnichannel enterprise software products and services for domestic and international ecommerce marketplaces. || Acquired 50% stake || <ref>{{cite news |title=Infibeam Avenues invests in software startup Vishko22 |url=https://economictimes.indiatimes.com/tech/startups/infibeam-avenues-invests-in-software-startup-vishko22/articleshow/93784155.cms |website=The Economic Times|date=25 August 2022 }}</ref>
|-
| 2022 || Acquisition || SoftPOS || SoftPOS startup Uvik Technologies || Rs 75 crore || <ref>{{cite web |last1=Vora |first1=Rutam |title=Infibeam to bring technology that converts smartphones into 'payment terminals' |url=https://www.thehindubusinessline.com/info-tech/infibeam-to-bring-technology-that-converts-smartphones-into-payment-terminals/article64970669.ece |website=Thehindubusinessline.com |language=en |date=7 February 2022}}</ref>
|-
| 2020 || Acquisition || Cardpay Technologies Ltd. || Bengaluru-based Cardpay Technologies provides unified spend management platform to corporates || NA || <ref>{{cite news |title=Infibeam Avenues acquires Cardpay Technologies |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/infibeam-avenues-acquires-cardpay-technologies/articleshow/76257531.cms |website=The Economic Times|date=8 June 2020 }}</ref>
|-
| 2018 || Acquisition || Instant Global Paytech Pvt. Ltd (IGPL) || Mumbai-based digital payments tech firm Instant Global Paytech Pvt. Ltd (IGPL), which operates Go Payments || Acquired 48% stake || <ref>{{cite news|title=Infibeam Avenues invests in Instant Global Paytech|work=www.businesstoday.in|url=https://www.businesstoday.in/pti-feed/infibeam-avenues-invests-in-instant-global-paytech/story/296938.html}}</ref>
|-
| 2017 || Merger || CCAvenue || Infibeam and Avenues (India) Private Limited entered into a binding agreement to merge and take control of CCAvenue through Equity Stake || NA || <ref name='tc'>{{cite web|date=14 February 2017|title=Infibeam set to merge payment gateway firm CCAvenue with itself|url=https://www.techcircle.in/2017/02/14/infibeam-set-to-merge-payment-gateway-firm-ccavenue-with-itself/|website=Techcircle}}</ref>
|-
| 2017 || Acquisition || DRC Systems India Pvt Ltd || Infibeam Avenues acquired DRC Systems India Pvt Ltd, a company which provides software services for enterprise E-commerce, ERP and related fields || MoU || <ref>{{cite news |last1=Dutta |first1=Vishal |title=Infibeam acquires cloud ERP solutions provider DRC Systems |url=https://economictimes.indiatimes.com/small-biz/startups/infibeam-acquires-cloud-erp-solutions-provider-drc-systems/articleshow/57447323.cms |work=The Economic Times}}</ref>
|-
| 2014 || Acquisition || Odigma || Infibeam acquired Odigma, a digital marketing company || $5 million || <ref>{{cite web |title=Infibeam acquires digital marketing firm ODigMa for $5 mn |url=https://www.business-standard.com/article/companies/infibeam-acquires-digital-marketing-firm-odigma-for-5-mn-114022401201_1.html |website=Business Standard India |date=24 February 2014}}</ref>
|}


== Recognition == == Partnership ==
{| class="wikitable"
In February 2018, Infibeam was ranked 418th in ] and Statista's FT1000 High Growth Companies Asia - Pacific 2018.<ref>{{Cite web|url=https://ig.ft.com/special-reports/ft-1000/asia-pacific/2018/|title=FT 1000: High-Growth Companies Asia-Pacific|website=ig.ft.com|language=en-GB|access-date=2018-06-14}}</ref>
|-
! Year !! Type !! Company Name !! Notes !! Status !! Cites
|-
| 2024 || MoU || ] || (MoU) aims to accelerate the adoption of Artificial Intelligence (AI) across enterprises, start-ups, and MSMEs. || Active || <ref>{{cite web |title=EDII and Infibeam Avenues Ltd partner to revolutionise AI adoption for enterprises, MSMEs, start-ups |url=https://theprint.in/economy/edii-and-infibeam-avenues-ltd-partner-to-revolutionise-ai-adoption-for-enterprises-msmes-start-ups/2144683/ |website=ThePrint |date=24 June 2024}}</ref>
|-
| 2024 || MoU || ] || Infibeam Avenues Ltd has signed a Memorandum of Understanding (MoU) with Gujarat government for a proposed investment of ₹2,000 crore in its Artificial Intelligence (AI) Hub at GIFT City by financial year 2030. || In Progress || <ref>{{cite web |last1=Nair |first1=Avinash |title=Infibeam Avenues Ltd signs ₹2,000-cr MoU with Gujarat govt |url=https://www.thehindubusinessline.com/info-tech/infibeam-avenues-ltd-signs-2000-cr-mou-with-gujarat-govt/article67722560.ece |website=BusinessLine |language=en |date=9 January 2024}}</ref>
|-
| 2020 || License deal || ] || The company signed a deal to license its e-commerce and payment software with ], ]'s digital platform venture || Active || <ref>{{cite news|date=October 5, 2020|title=Infibeam Avenues signs deal to license ecommerce and payment software to Jio Platforms|publisher=]|url=https://economictimes.indiatimes.com/markets/stocks/news/infibeam-avenues-signs-deal-to-license-ecommerce-and-payment-software-to-jio-platforms/articleshow/78498722.cms|access-date=2020-10-11}}</ref>
|-
| 2020 || Agreement || ] || Infibeam Avenues entered into a definitive agreement with ] to use the company's flagship enterprise payment platform CCAvenue for processing transactions for its enterprise clients || Active || <ref>{{cite news|last1=Market|first1=Capital|date=14 October 2020|title=Infibeam Avenues rises on signing agreement with JP Morgan|work=Business Standard India|url=https://www.business-standard.com/article/news-cm/infibeam-avenues-rises-on-signing-agreement-with-jp-morgan-120101400800_1.html}}</ref>
|-
| 2020 || Partnership || Bank Dhofar SAOG || Infibeam Avenues partnered with Oman's Bank Dhofar SAOG to provide CCAvenue payment gateway service to process online card transactions of various payment networks for Bank Dhofar SAOG and help the bank authorize online payments for its customers || Active || <ref>{{cite news|date=9 October 2020|title=Infibeam Avenues inks deal with Oman's Bank Dhofar for online payments|work=The Financial Express|url=https://www.financialexpress.com/industry/banking-finance/infibeam-avenues-inks-deal-with-omans-bank-dhofar-for-online-payments/2101513/}}</ref>
|-
| 2020 || Partnership || ] || Infibeam Avenues collaborated with ], a financial services provider in the Sultanate of ] || Active || <ref>{{cite news|last1=Dave|first1=Sachin|title=Infibeam enters Oman e-commerce market, ties up with Bank Muscat|work=The Economic Times|url=https://economictimes.indiatimes.com/tech/startups/infibeam-enters-oman-e-commerce-market-ties-up-with-bank-muscat/articleshow/79383799.cms}}</ref>
|-
| 2019 || Partnership || ] || Infibeam Avenues partnered with ] for digital payments services || Active || <ref>{{cite news |last1=Dutta |first1=Vishal |title=Riyad Bank: CCAvenue collaborates with Riyad Bank to make inroads into Saudi Arabia's digital payment space |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/ccavenue-collaborates-with-riyad-bank-to-make-inroads-into-saudi-arabias-digital-payment-space/articleshow/71213181.cms |work=The Economic Times}}</ref>
|-
| 2017 || Contract || ] || Infibeam Avenues along with consortium partners entered a contract for managed service provider from the Government of India to design, develop, implement, operate and maintain the Government e-Marketplace portal (GeM) || Active || <ref name='IT'/>
|}


== Awards and recognition ==
Infibeam was conferred with Consumer Durable & E-Retail of the Year Award at E-Retail Award 2018<ref>{{Cite web|url=https://www.indianretailer.com/congress/|title=Indian Retail & eRetail Congress 2018|website=www.indianretailer.com|language=en|access-date=2018-06-18}}</ref> by Franchise India held on 16–17 April 2018 in JW Marriott Hotel, New Delhi.<ref>{{Cite web|url=https://www.indianretailer.com/congress/awards_winner.php|title=Indian Retail & eRetail Congress 2018|website=www.indianretailer.com|language=en|access-date=2018-06-18}}</ref> At the same award function, Infibeam's subsidiary CC Avenue was conferred with "Best Innovation in E-Commerce Payment".<ref>{{Cite web|url=https://www.indianretailer.com/congress/awards_winner.php|title=Indian Retail & eRetail Congress 2018|website=www.indianretailer.com|language=en|access-date=2018-06-18}}</ref>
*ET BFSI Excellence Awards 2022<ref>{{cite web |title=ETBFSI Excellence Awards: 32 winners who made a difference in BFSI sector celebrates with Abhinav Bindra - ET BFSI |url=https://bfsi.economictimes.indiatimes.com/news/industry/etbfsi-excellence-awards-32-winners-who-made-a-difference-in-bfsi-sector-celebrates-with-abhinav-bindra/98203719 |website=ETBFSI.com |language=en}}</ref>


== References == == References ==
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Latest revision as of 11:20, 22 November 2024

Indian financial technology company

Infibeam Avenues Limited
Infibeam logo
Company typePublic
Traded asNSE: INFIBEAM
BSE: 539807
IndustryInternet, Fintech
Founded2007; 17 years ago (2007)
FounderVishal Mehta
HeadquartersGIFT City, Gandhinagar, India
Area servedIndia, Middle East, USA & Australia
Services
RevenueIncrease ₹3,171 crore (US$370 million)
Operating income ((FY23-24))
Net incomeIncrease ₹147 crore (US$17 million) ((FY23-24))
Number of employees650 (in 2022)
Websitehttps://www.ia.ooo/

Infibeam Avenues Limited is an Indian fintech company that provides digital payment services, eCommerce platforms, digital lending, data cloud storage and omnichannel enterprise software to businesses across industries in India and globally.

Through its flagship brand, CCAvenue, the business is present in the payment infrastructure market, processing more than US$86 billion in online payments. Infibeam Avenues claims to have more than 10 million merchants on its platform. It also operates in overseas markets like the United States, Saudi Arabia, the UAE, and Australia.

It is headquartered in GIFT City, Gujarat, India with offices in Delhi, Mumbai and Bengaluru.

History

Infibeam Avenues was established in 2007 by Vishal Mehta. The company was listed on the BSE and the NSE in 2016.

It provides its marketplace software platform, BAB, to two of India's four largest eCommerce organisations – GeM and JioMart.

On 7 September 2022, Infibeam Avenues launched its omni-channel mobile app CCAvenue TapPay that allows businesses and entrepreneurs to convert any NFC-enabled Android phone into smart PoS terminals.

In August 2024, Infibeam Avenues Ltd. acquired a 54.1% stake in internet business firm Rediff.com India Ltd. Post-acquisition, Rediff.com became a subsidiary of Infibeam Avenues.

Vishal Mehta, the founder of Infibeam, has assumed the role of Chairman and Managing Director of Rediff.com. He succeeds Ajit Balakrishnan, who has directed the corporation since its inception in 1996. The leadership transition occurs subsequent to Infibeam Avenues Ltd's acquisition of a controlling interest in Rediff.com.

Services

Payment Processing

Infibeam provides a digital payment gateway service through CCAvenue. The CCAvenue Payment Gateway offers multiple payment options, supports 18 different languages, and facilitates transactions in 27 major foreign currencies. It also establishes a secure link between websites, institutions, and banks during transactions.

CCAvenue's 'TokenPay' help merchants to comply with the Reserve Bank of India's data security norms by securing multi-network tokenisation, which works across major card networks, including MasterCard, RuPay, and Visa.

The Reserve Bank of India had granted Infibeam Avenues "in-principle" authorisation to operate as a Payment Aggregator (PA) under the brand CCAvenue, to allow a wide range of online and offline transactions. Payment aggregators allow e-commerce platforms and merchants to accept a variety of payment methods from customers, simplifying the payment process and removing the need for merchants to design their own payment integration system.

The Reserve Bank of India has granted Infibeam Avenues Limited, India's first publicly traded fintech startup, a permanent licence for its bill payments platform, BillAvenue. BillAvenue can use this licence to operate as a Bharat Bill Payment Operating Unit (BBPOU) under the Bharat Bill Payment System (BBPS). BillAvenue functions as both a biller and a customer operating unit as a BBPOU, easing the onboarding of Billers and Agent Institutions to service clients.

Merchants Financing/Lending

Infibeam Avenue has a lending aggregation platform called Trust Avenue. The company has facilitated AI-based lending for 3 million merchants through partnerships with banks and NBFCs.

Enterprise ecommerce software platform

Infibeam Avenues' enterprise ecommerce software platform BuildaBazaar hosts India's largest online marketplace for government procurement. The company also entered into a definitive agreement with Jio Platforms to offer its enterprise software licence and enterprise digital payments platform to Jio Platforms and its associates for their internal businesses.

On November 20, 2017, Infibeam Avenues launched BillAvenue, an inter-operable digital bill payments platform built over the Bharat Bill Payment System (BBPS) infrastructure to enable service providers to accept bill payments from customers nationwide, through both online and offline channels.

Data Centre infrastructure services

The company forayed into the segment of infrastructure or data centre-as-a-service, and built a state-of-the-art Tier-III data centre in GIFT City, Gandhinagar. It received Tier-III design certification from Uptime Institute as it is equipped with fully redundant and dual-powered servers, storage, network links and other IT components. Infibeam Avenues has partnered with IBM India to develop implement and promote blockchain capabilities on the LinuxOne platform.

Artificial Intelligence

Infibeam Avenues announced its entry into the AI-enabled fraud detection industry on August 8, 2023, with the goal of developing Artificial Intelligence (AI) solutions for authentication, fraud detection, and risk identification in both domestic and worldwide markets. In the beginning, the company will focus on the digital payments and financial industries, employing AI and machine learning algorithms to detect online transaction fraud in real time. Infibeam Avenues also intends to build India's first AI HUB at GIFT City.

Mergers & Acquisitions

Year Type Company Name Notes Valuation/Stake Cites
2024 Acquisition Rediff.com Rediff.com is a Mumbai-based internet company, founded in 1996. It provides news and information, enterprise email services and an online digital marketplace. 54% acquired
2024 Investment XDuce XDuce is an enterprise app and AI development company that specialises in building AI solutions for businesses to optimise their internal operations and customer-facing systems. 20% acquired
2023 Investment Pirimid Fintech Pirimid Fintech is a capital markets financial software provider. The company develops customised capital markets and digital lending products, tools, and services to meet the industry's needs, globally. 49% acquired
2022 Investment Vishko22 Vishko22 is a software startup that develops omnichannel enterprise software products and services for domestic and international ecommerce marketplaces. Acquired 50% stake
2022 Acquisition SoftPOS SoftPOS startup Uvik Technologies Rs 75 crore
2020 Acquisition Cardpay Technologies Ltd. Bengaluru-based Cardpay Technologies provides unified spend management platform to corporates NA
2018 Acquisition Instant Global Paytech Pvt. Ltd (IGPL) Mumbai-based digital payments tech firm Instant Global Paytech Pvt. Ltd (IGPL), which operates Go Payments Acquired 48% stake
2017 Merger CCAvenue Infibeam and Avenues (India) Private Limited entered into a binding agreement to merge and take control of CCAvenue through Equity Stake NA
2017 Acquisition DRC Systems India Pvt Ltd Infibeam Avenues acquired DRC Systems India Pvt Ltd, a company which provides software services for enterprise E-commerce, ERP and related fields MoU
2014 Acquisition Odigma Infibeam acquired Odigma, a digital marketing company $5 million

Partnership

Year Type Company Name Notes Status Cites
2024 MoU Entrepreneurship Development Institute of India (MoU) aims to accelerate the adoption of Artificial Intelligence (AI) across enterprises, start-ups, and MSMEs. Active
2024 MoU Government of Gujarat Infibeam Avenues Ltd has signed a Memorandum of Understanding (MoU) with Gujarat government for a proposed investment of ₹2,000 crore in its Artificial Intelligence (AI) Hub at GIFT City by financial year 2030. In Progress
2020 License deal Jio Platforms The company signed a deal to license its e-commerce and payment software with Jio Platforms, Reliance Jio's digital platform venture Active
2020 Agreement JPMorgan Chase Bank Infibeam Avenues entered into a definitive agreement with JPMorgan Chase Bank to use the company's flagship enterprise payment platform CCAvenue for processing transactions for its enterprise clients Active
2020 Partnership Bank Dhofar SAOG Infibeam Avenues partnered with Oman's Bank Dhofar SAOG to provide CCAvenue payment gateway service to process online card transactions of various payment networks for Bank Dhofar SAOG and help the bank authorize online payments for its customers Active
2020 Partnership Bank Muscat Infibeam Avenues collaborated with Bank Muscat, a financial services provider in the Sultanate of Oman Active
2019 Partnership Riyad Bank Infibeam Avenues partnered with Riyad Bank for digital payments services Active
2017 Contract Government e Marketplace Infibeam Avenues along with consortium partners entered a contract for managed service provider from the Government of India to design, develop, implement, operate and maintain the Government e-Marketplace portal (GeM) Active

Awards and recognition

  • ET BFSI Excellence Awards 2022

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