# Infibeam

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 |
| 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 |
| 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