A 54% stake in Rediff.com India Ltd. has been acquired by the fintech company Infibeam Avenues. With the help of this internally funded acquisition, Infibeam Avenues will launch its consumer-facing digital financial service as an aggregator supported by a platform for collaboration, cloud-based enterprise email storage, and mainstream news.
Infibeam Avenues states that acquiring the majority stake will be a step toward expanding its offerings and that it anticipates double-digit revenue growth as a result of its upcoming entry as an aggregator into the financial sector.
Rediff.com has over 5,000 corporate email clients. Infibeam plans to leverage these strengths and leverage Rediff.com’s organic traction among its news audiences to grow its business across its product and service offerings in both domestic and international markets.
Ajit Balakrishnan founded Rediff.com in 1996. It offers a wide range of services, such as content distribution, cloud-based enterprise email storage, and associated commerce services that give users access to a large digital platform. It lists among the top 1,000 websites in the world in terms of traffic, with over 55 million monthly visitors, and boasts a sizable user base and data assets that offer insightful information about the spending habits, preferences, and behavior of its users. The user base of the company uses artificial intelligence to cross-sell financial products like investment, insurance, and loan products.
For a variety of commercial and governmental organizations, Infibeam Avenues offers enterprise software platforms, AI solutions, and digital payment gateways (CCAvenue). In addition, it provides money transfer services for banks and businesses, a digital banking suite for corporations and SMEs, and correspondence banking services for those without access to banks.
