Infibeam’s Subsidiary to Power Escrow and Cross-Border Payments at India’s Global Finance Hub

Infibeam Avenues Ltd (NSE: INFIBEAM, BSE: 539807), a leading listed AI-fintech company, today announced that the International Financial Services Centres Authority (IFSCA) has granted in-principle approval to its wholly-owned subsidiary, IA Fintech IFSC Private Ltd (IA Fintech), to operate as a Payment Service Provider (PSP) in the Gujarat International Finance Tec-City – International Financial Services Centre (GIFT-IFSC).

GIFT-IFSC, based in Gandhinagar, Gujarat, is India’s premier special economic zone (SEZ) and a strategic international financial hub designed to host global financial operations that traditionally take place in centers such as London, Dubai, or Singapore. The IFSCA, a Government of India’s unified regulatory body, oversees and promotes all financial products, institutions, and services within the GIFT- IFSC or SEZ ecosystem.

With this in-principle approval, IA Fintech is set to deliver a broad suite of digital payment and cross-border financial services to businesses operating within GIFT-IFSC and international markets. These services will include escrow account operations, cross-border money transfer facilitation, and merchant acquisition — supporting enterprises with faster, more efficient, and regulated payment solutions.

“We are delighted with this approval and deeply grateful to the IFSCA for their trust in our fintech capabilities,” said Mr Vishal Mehta, Chairman and Managing Director, Infibeam Avenues Ltd. “This opportunity marks an important expansion of our business, creating a new and high-potential revenue stream that can meaningfully contribute to our overall growth.”

Upon obtaining final authorization and meeting statutory requirements, IA Fintech will be permitted to:

• Provide escrow services for secured financial settlements.
• Enable cross-border remittances into and out of the GIFT-IFSC/SEZ area.
• Facilitate payment processing and settlement for merchants.

Currently, many firms within GIFT-IFSC rely on traditional correspondent banking arrangements for international payments, involving multi-step routing through overseas banks via Nostro accounts and SWIFT networks. This process can take up to 36–48 hours and often incurs higher costs. IA Fintech’s PSP framework aims to streamline these transactions through advanced digital settlement infrastructure, ensuring near-instant, cost-effective, and transparent cross-border transactions.

The GIFT-IFSC ecosystem continues to grow rapidly — hosting over 16 Alternative Investment Funds (AIFs), 75 broker-dealers, 16 bullion trading entities, 23 aircraft leasing companies, 9 ship leasing firms, 118 qualified jeweler firms notified by IFSCA, 94 fund management firms and others. Collectively, these enterprises represent a significant addressable market for IA Fintech’s regulated digital payment services.

According to estimates, GIFT-IFSC is positioned to capture over USD 500 billion in financial opportunities spanning external commercial borrowings, trade finance, HNI wealth management, ESG pools, and lease financing across aviation and maritime sectors. For instance, trade finance transaction volumes have more than doubled — rising from USD 20 billion in FY22 to USD 46 billion in FY25.

IA Fintech as a regulated payment service providers intent to play a pivotal role in transforming GIFT-IFSC into a global fintech and cross-border payments hub, enabling faster financial flows, digital commerce efficiency, and greater competitiveness for Indian and international enterprises operating within the GIFT-IFSC/SEZ area.

Infibeam’s Phronetic.AI and Nawgati Join Forces to Build Real-Time AI for India’s Energy, Fuelling & Fleet Future

Nueromind Technologies Private Limited (“Phronetic”), a cutting-edge deep-tech AI company owned by Infibeam Avenues Ltd, has entered into a Memorandum of Understanding (MoU) with Nawgati Tech Private Limited, a pioneering deep-tech company transforming India’s fuel and mobility infrastructure. This deal aims to co-develop next-generation AI-powered solutions tailored for the fueling, fleet, and energy sectors to automate reasoning capabilities for accurate decision making on real-time basis by using CCTV-video inputs.

Phronetic’s ABM platform is a multimodal technology that combines Video-Language Models (Video-LLMs) with a reasoning model. The Video-LLMs provide insight for understanding the environments, while the reasoning models provides intelligence in contextualizing this information. Ultimately, Phronetic’s Agentic AI, known as the field agent, enables real-time actions based on these insights.

Companies often face operational challenges related to improving efficiency and ensuring SOP (standard operating procedures) compliance. Although current technologies can identify or detect these challenges, they fall short in providing decision-making and action-oriented suggestions due to their lack of reasoning capabilities with video inputs.

“While reasoning capabilities using text are available in the market, there is a significant gap in reasoning models that effectively utilize video inputs, especially in industries such as manufacturing and retail, where physical production and on-the-floor activities take place. By leveraging reasoning capabilities to analyze video feeds, organizations can dramatically enhance their efficiency and SOP compliance, which will ultimately contribute to their business growth,” explained Mr. Rajesh Kumar, CEO of Phronetic AI, emphasizing that Phronetic's technology addresses the pressing need for accurate decision-making by automating reasoning tasks and aiding to take an action.

Expressing his enthusiasm, Mr Rajesh Kumar further said “Partnering with Nawgati allows us to apply our intelligence at scale and create real-world impact in high-throughput, high-stakes energy operations.”

Mr. Vaibhav Kaushik, Co-Founder & CEO of Nawgati, said: “Nawgati is leading the digital transformation of India’s fuelling infrastructure through deep-tech solutions powered by AI and advanced deep learning algorithms. Our flagship platform, Aaveg, is deployed across thousands of fuel stations to monitor retail operations in real time, reduce pilferage, and ensure SOP compliance. We are delighted to work with Phronetic and leverage their advanced AI capabilities to enhance the intelligence and efficiency of our solutions. Together, we’re unlocking a new era of autonomy and efficiency across fuel and fleet networks.”

Key Highlights of the Collaboration:

• Agentic AI Deployment: Phronetic will integrate its Field and Desk AI Agents into Nawgati’s tech stack to enhance operational intelligence, automate customer interactions, and support intelligent decision-making across various environments.
• Go-to-Market (GTM) Partnership: Phronetic and Nawgati will jointly go to market with AI-powered offerings for the fuel, fleet, and energy sectors, leveraging Nawgati’s vast on-ground deployments, deep-tech Aaveg platform and Phronetic’s agentic AI capabilities.

Nawgati’s flagship product, Aaveg, is a vertical SaaS platform used by energy players to optimize forecourt operations, reduce inefficiencies, manage congestion, monitor SOPsand enhance compliance. Nawgati’s product is deployed across thousands of fuel outlets across the country. In addition, Nawgati powers India’s largest fueling app, serving over 2 million users, offering a seamless end-to-end fueling experience. Nawgati has also played a pivotal role in digitising CNG fleet programs across India, streamlining logistics and enhancing transparency for commercial vehicle networks. Fuel outlets of Indraprastha Gas, Mahanagar Gas, Torent Gas, and petrol pumps operated by dealers of Indian Oil, Bharat Petroleum, Hindustan Petroleum and JioBP use Nawgati’s products.

Founded at BITS Pilani, Nawgati is at the forefront of fuel-tech innovation, developing intelligent digital infrastructure solutions for India’s energy sector. By unifying fuel stations, fleet operators, and consumers on a single platform, Nawgati enhances network utilization, streamlines refueling operations, and offers real-time visibility into fuel availability and fleet movement. The company operates at the intersection of deep-tech, mobility, and energy, and is backed by marquee investors including GAIL (India) Ltd, Ajay Upadhyaya, Deepak Bhagnani Family Office, MeitY Startup Hub, Department of Science & Technology (DST), Jash Bhurjee, BITS Spark, and Aamara Capital.

Phronetic is an AI business vertical under Nueromind Technologies Private Limited, a pioneering deep-tech AI company and a subsidiary of Infibeam Avenues Ltd.

About Nawgati Tech Private Ltd:

Nawgati is an AI and IoT-driven Technology Company built to modernize fuel station operations, minimize pilferage, and elevate the customer experience. At its core is Aaveg, Nawgati’s flagship solution that provides real-time nozzle-level monitoring, automated stock reconciliation, and intelligent queue and compliance management through camera-based AI systems. The platform enables fuel station operators to digitally manage sales, inventory, and customer footfall via a centralized dashboard, offering actionable insights for operational efficiency. It also supports predictive maintenance of critical forecourt hardware, reducing downtime and maintenance costs. On the consumer side, Nawgati operates India’s largest fuelling app to offer features such as real-time station information, digital billing, and instant feedback collection, bridging the gap between station infrastructure and end-user convenience. Additionally, Nawgati offers fleet management integrations that provide visibility into fueling behavior, optimize route planning, and enable seamless control over large-scale commercial vehicle operations.

About Infibeam Avenues Limited:

Infibeam Avenues Ltd. is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks. The core Payment Gateway (PG) business provides over 200 plus payment options to the merchants allowing them to accept payments through website and mobile devices in 27 international currencies. Infibeam Avenues' enterprise software platform hosts India's largest online marketplace for government procurement. The company processed transaction worth INR 7.0 trillion (US$ 86 billion) in FY24. Company currently has over 10 million plus clients across digital payments and enterprise software platforms. The company's vast clientele includes merchants, enterprises, corporations, governments, and financial institutions in both domestic (India) as well as international markets. Infibeam Avenues' international operations are based in the United Arab Emirates, Kingdom of Saudi Arabia, Australia, and the United States of America. We also have business presence in Oman working with three of the largest banks in the country.

Infibeam Avenues and IISc Join Together to Develop Real-time Deepfake Detection Systems for Government, Corporates, Organisations to Combat AI-related threats; sign MoU

Infibeam Avenues Ltd, a leading fintech company, has announced signing of a strategic MoU for Research and Development (R&D) with the Indian Institute of Sciences (IISc) Bangalore, one of the world’s top-ranking universities known for its research excellence. This collaboration aims to research and develop advanced real-time deepfake detection systems designed to enhance digital security for government entities, corporations, and organizations, effectively combating the rising threat of AI-generated deception.

As deepfake technology continues to evolve, it poses significant risks to personal and corporate integrity. These sophisticated AI-generated media can create hyper-realistic but false representations of individuals and events, leading to misinformation, cyberbullying, harassment, financial fraud, and identity theft. Such threats have far-reaching implications for businesses, government institutions, and the general public.

A notable incident highlighting the urgency of this issue occurred in January 2024, when a Hong Kong-based multinational company lost approximately $25 million (around Rs 207 crore) due to a deepfake scam. Scammers executed a convincing live video call using deepfake technology to impersonate company executives, leading to a severe financial loss before the deception was uncovered. (Source: South China Morning Post and Business Insider).

“Digital communications and a digital India will thrive only as long as there is trust,” said Mr. Rajesh Kumar SA, CEO of Phronetic.AI, an AI unit of Infibeam Avenues Ltd. “This partnership is a pivotal step in restoring trust in digital communications. Together, we will equip users with the necessary tools to differentiate between truth and fabrication in an increasingly complex digital landscape, thereby mitigating fraud risks and enhancing digital trust.”

Under the terms of the Memorandum of Understanding (MoU), Infibeam Avenues Ltd’s AI business unit, Phronetic.AI, and the IISc team will collaboratively develop anti-deepfake technology specifically tailored for real-time video communication. The partnership will focus on selecting the most effective detection models for various scenarios, ensuring that real-time deepfake detection operates efficiently and cost-effectively at scale.

“We are committed to staying ahead of malicious actors by developing innovative AI solutions that ensure digital authenticity,” said Mr. Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd. “This partnership is a crucial step toward enhancing cybersecurity and preventing the misuse of deepfake technology for fraudulent activities.”

Despite the availability of various deepfake detection tools in the market, only a limited number possess the capability for real-time operation. In a pioneering effort, Infibeam’s Phronetic.AI team has developed an advanced video AI agent that can detect deepfakes in real-time through a novel interventional technique. This agent actively engages in live video conversations, alerting users when the other participant is identified as a deepfake. Infibeam has already filed a patent for its innovative real-time deepfake detection algorithm.

Recognizing the increasing sophistication of deepfakes and the necessity for detection algorithms to evolve continuously to address this growing threat, the company has collaborated with Vision and AI Lab (VAL) of the Indian Institute of Science (IISc), where it aims to improve these algorithms further, ensuring robust defenses against the challenges posed by increasingly realistic deepfake technology.

“As Generative AI continues to advance at an unprecedented pace, the rise of deepfakes poses a significant challenge. Without proactive measures, the spread of AI-generated misinformation could become a major concern. Addressing this requires ongoing efforts from AI researchers to monitor emerging generative models and develop robust techniques to detect deepfakes effectively.” said Prof. Venkatesh Babu, Professor and Chair of the Dept. of Computational and Data Sciences (CDS) IISc.

Additionally, the research will prioritize the development of a user-friendly interface, enabling easy access for non-experts to verify the authenticity of live visuals and audio. This scalable detection system will be adaptable across various sectors, including banking, healthcare, insurance, finance, fintech, HR recruitment, government organizations, police, armed forces, and personal communications, addressing the diverse needs of industries particularly vulnerable to deepfake technology.

This research initiative aims to offer Real-Time Deepfake detection AI Agent that enhances public confidence and protect the reputations of its users whether it’s a government institutions, organizations, or a corporations.

About Infibeam Avenues Limited:

Infibeam Avenues Ltd. is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks. The core Payment Gateway (PG) business provides over 200 plus payment options to the merchants allowing them to accept payments through website and mobile devices in 27 international currencies. Infibeam Avenues' enterprise software platform hosts India's largest online marketplace for government procurement. The company processed transaction worth INR 7 trillion (US$ 86 billion) in FY24. Company currently has over 10 million plus clients across digital payments and enterprise software platforms. The company's vast clientele includes merchants, enterprises, corporations, governments, and financial institutions in both domestic (India) as well as international markets. Infibeam Avenues' international operations are based in the United Arab Emirates, Australia, and the United States of America. We also have business presence in Oman working with three of the largest banks in the country.

Infibeam Avenues' Subsidiary Rediff Receives TPAP License from NPCI for RediffPay

Infibeam Avenues Limited, a listed fintech company, is pleased to announce that its subsidiary, Rediff.com India Ltd., has been granted a Third-Party Application Provider (TPAP) license by the National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay.

As per the official communication received by Rediff from National Payments Corporation of India (NPCI) on Friday, it has been informed about the approval of TPAP license and also that Axis Bank will act as Payment System Provider (PSP) bank.

This license enables RediffPay to offer Unified Payments Interface (UPI) services to its users, marking Infibeam Avenues' strategic entry into the consumer-facing digital payments sector. The company had previously applied for the TPAP license following its acquisition of a controlling stake in Rediff in 2024.

Mr. Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd., stated, "We are thrilled that our subsidiary company has received the TPAP license from NPCI, which allows us to extend UPI services through RediffPay. This milestone aligns with our vision to enhance financial inclusivity and offer seamless digital payment solutions to consumers across India."

RediffPay aims to leverage Rediff's substantial web traffic and Infibeam's fintech expertise to provide a user-friendly platform for secure and efficient digital transactions. The company plans to introduce a range of financial services, including credit and wealth management products, to cater to the diverse needs of its users.

This development follows Infibeam Avenues' recent achievements, including receiving the final authorization from the Reserve Bank of India to operate as a Payment Aggregator for its flagship payment gateway brand, CCAvenue.

With the TPAP license, RediffPay is poised to become a significant player in India's digital payments landscape, contributing to the nation's ongoing digital transformation.

Fintech Infibeam Avenues to Acquire 54% Stake in Rediff.com

Infibeam Avenues, a fintech company based in Gandhinagar, has entered into a definitive agreement to acquire a 54% stake in Rediff.com, one of India's oldest internet firms. The investment amounts to approximately ₹50 crore, split equally between equity and debt.

Infibeam aims to create a common ecosystem for payments, e-commerce, cloud services, and content consumption through this acquisition.

Additionally, it plans to leverage RediffMoney's platform for cross-selling credit, insurance, and investment products to its users.

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.

To recall, in February this year, Infibeam acquired 20% strategic stake in XDuce, a renowned enterprise Application and AI development company based in the United States. Last year in December, Infibeam acquired 49% equity stake in Pirimid Fintech, investing Rs 25 crore in the company. In February 2023, Infibeam Avenues also acquired an additional 2.42% stake in Instant Global Paytech Pvt Ltd for INR 162.5 million. Instant Global reported revenue of INR 691.3 million as of March 31, 2022.

Infibeam Avenues has made a total of eight investments in various companies, including Vishko22 Products & Services and Fable Fintech. Additionally, it has acquired five companies, including Uvik Technologies and So Hum Bharat Digital Payments.

About Rediff.com, it was founded by Ajit Balakrishnan in 1996 and holds a significant place in India's internet landscape. It emerged during a time when internet access in India was nascent, with only 18,000 users. It became one of the earliest Indian web portals and email providers.

Early products from Rediff.com included Rediffmail, an email service, and Rediff Shopping, an online marketplace for electronics and peripherals.

As a pioneer, Rediff.com was the first Indian website to transition into a mainstream news media organization. It rode the initial dot-com wave, offering services such as email, news, and e-commerce.

In April 2016, the company decided to delist from NASDAQ, citing high reporting costs.

Infibeam Avenues Acquires 20% Stake in US-based AI Company XDuce for $10 Mn

Infibeam Avenues Ltd Expands Global Foothold with 20% Strategic Stake in US-based XDuce, to Penetrate the US Markets with CCAvenue Payment Gateway and PhroneticAI Solutions

Infibeam Avenues Ltd, a listed AI−powered fintech company, announces investment of USD 10 million for the acquisition of a 20% strategic stake in XDuce (“Company”), a renowned enterprise Application and AI development company  based in the United States.

With headquarters in New Jersey USA, XDuce has a team of over 150 software developers in the US servicing some of the marquee Wallstreet and Insurance Clients in North America. The Company is renowned for its expertise in business application implementations, integration services, and business transformation.

Founded in 2006 by Indian-origin entrepreneur Jay Dave, XDuce has offices in Canada, UK, and Ahmedabad, Gujarat in India.

XDuce esteemed clientele includes industry titans such as Bank of America, Morgan Stanley, Capgemini, Hollingsworth & Vose, Deutsche Bank, BNP PARIBAS, Goldman Sachs, NYP, QBE, IEEE, FMCNA and many more.

By joining forces, Infibeam Avenues Ltd will gain the strategic advantage of tapping into this illustrious network for its Phronetic AI Solutions and CCAvenue Payments business in the US.

On Saturday, the board of directors has approved the equity acquisition in XDuce. It’s a strategic move to integrate Infibeam Avenues Ltd’s PhroneticAI capabilities into XDuce’s existing framework as well as support platform and payments business growth in the US market. This integration is aimed at enhancing the intelligence quotient of XDuce's solutions, especially by embedding PhroneticAI Fraud detection and Authentication and Risk identification (FAR) AI technology for the financial sector in the US.

Furthermore, XDuce will support the US growth of Infibeam Avenues Ltd’s payment gateway brand, CCAvenue, positioning it strongly in the immensely profitable financial sector of the United States.

"We are enthusiastic about this strategic investment, as it signifies a pivotal moment for XDuce. Collaboratively, we aim to enhance and broaden our product offerings, offering businesses and consumers in the US access to state−of− the−art AI−driven technologies for identifying and preventing transaction fraud," said Mr Jay Dave, CEO of XDuce.

"This strategic move will enable Infibeam Avenues to penetrate the US market with our AI fintech solutions for the financial fraud prevention space," said Mr Rajesh Kumar SA, CEO of Phronetic.Al, an Artificial lntelligence business unit of lnfibeam Avenues Ltd.

This strategic move is poised to reshape the trajectory of Infibeam’s international business as the company aims to boost its international business contribution to company’s total revenue in the next two years.

“Last year, international business contributes less than 10% to Infibeam Avenues Ltd's total revenue and we plan to grow International business to 30% of total revenue in the next couple of years. This strategic investment in XDuce will support the growth of CCAvenue payments business as well as our platform business in US,” said Mr. Vishwas Patel, Joint Managing Director, lnfibeam Avenues Ltd.

The year 2022 witnessed a pivotal moment for Infibeam Avenues Ltd with the restructuring and consolidation of its international business. The company has set its sights on global dominance in the digital payment gateway market and AI powered fintech solutions for financial fraud preventions market. The company has its presence in MENA region, US and Australia.

Infibeam Avenues Signs Rs 2000 Crore MoU with Gujarat Government at Vibrant Gujarat Global Summit 2024

Infibeam Avenues Ltd, an AI-powered fintech company, is pleased to announce its participation in the 10th edition of the Vibrant Gujarat Global Summit (VGGS) 2024. The company has signed a Memorandum of Understanding (MoU) with the Gujarat Government, with a proposed investment of Rs 2000 crore by the financial year 2030 in its Artificial Intelligence (AI) Hub for developing cutting-edge vision AI-technology for payments and platforms specifically tailored for retailers.

Infibeam Avenues CFO - Mr Sunil Bhagat with Mr. Tushar Y. Bhatt, IAS, Managing Director, Gujarat Informatics Ltd. (Tushar MD, Gujarat Informatic Ltd is wearing a blazer) (Mr Sunil is in shirt)

This MoU with the Gujarat Government underscores Infibeam Avenues Ltd's steadfast commitment to strengthen India's AI landscape and promote collaboration to facilitate the growth and adoption of AI technology among retailers in the country.

The signing ceremony took place at Swarnim Sankul, New Sachivalaya, Gandhinagar, and was presided over by the Honourable Chief Minister of Gujarat, Mr. Bhupendra R Patel, along with other distinguished ministers and top government officials.

Mr. Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd, expressing the company's enthusiasm for the collaboration with the Gujarat government, said, "With this MoU, we aim to fortify our partnership with the Gujarat government, opening up avenues for growth for retailers across the country. The incorporation of AI technology will not only elevate the competitiveness of retailers but also position Gujarat as a leading AI Hub for innovative solutions in the rapidly expanding Indian retail sector."

In a recent development, Infibeam Avenues Ltd has officially named its AI-Hub located at GIFT city, Gandhinagar, as 'Phronetic.ai.' This hub is set to play a pivotal role in fostering collaboration among the government, private enterprises, tech enterprises, tech start-ups, AI technology developers and retailers.

The company’s AI solutions will be sector agnostic and predominately be Visual AI based solutions, wherein it cutting-edge technology will be used for detection, prevention and increasing the security. The company’s visual AI solutions initially begins with financial & businesses sector, but plans to spread to other sectors that has an intrinsic need of visual AI solutions including the lucrative defence space by 2030. 

Currently, the company aims at transforming retailers through its in-house developed Vision AI technology, a tool designed to significantly assist retailers by tracking products, customers, and payments through image and video analysis. The focus is on addressing the evolving challenges faced by retailers, particularly in the areas of stocking and inventory management, security, and pilferage.

The company is actively engaged in the development of its first AI solutions tailored for retailers, with the flagship product named 'Theia'—a user-friendly video intelligence platform. There are six features of ‘Theia’, combinedly works to benefit a retailer as if it has a personal assistant. Theia does the inventory management using the AI video technology by finding the products and listing it. It also works as a third eye by detecting and analysing customers activities within the video footage, helping identify potential theft incidents, thus enhancing security. 

The third feature provides a comprehensive heatmap, highlighting the areas of high customer interaction zone within the CCTV video footage, allow businesses to strategically plan its product layouts and placements based on the heatmap, thus optimizing the utilization of space to enhance customer engagement. Theia also allows explore video using chat, demand detail explanation of the video footage and provide video search within the database for enhancing decision-making.

Notably, Theia is designed to be economically priced, making advanced technologies accessible to retailers. Video AI technology for retailers will be the initial focus of this collaboration.

Infibeam Avenues Ltd plans to collaborate with around 100,000 retailers to achieve several objectives: (a) enhance operational efficiencies, (b) improve security measures, (c) elevate the overall customer experience for retailers, and (d) advocate for policy development tailored to the needs of small retailers. Additionally, the company anticipates creating employment opportunities for over 5,000 individuals through both the gig economy and full-time employment in next five years.

The newly signed MoU signifies the long-term relation with the Government of Gujarat, where the government will play a facilitative role, assisting Infibeam Avenues Ltd in obtaining necessary permissions, registrations, approvals, and clearances from relevant state and central government departments, in accordance with existing policies, rules, and regulations.

Over the past two decades, the Vibrant Gujarat Summit has been a driving force for economic growth and development. The current edition reaffirms its status as a trailblazer and trendsetter, consistently proving that ambitious thinking is the first step towards making a substantial impact.

About Infibeam Avenues Limited:

Infibeam Avenues Ltd. is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks. The core Payment Gateway (PG) business provides over 200 plus payment options to the merchants allowing them to accept payments through website and mobile devices in 27 international currencies. Infibeam Avenues' enterprise software platform hosts India's largest online marketplace for government procurement. The company processed transaction worth INR 4.5 lac crore (US$ 54 billion) in FY23. Company currently has over 8 million plus clients across digital payments and enterprise software platforms. The company's vast clientele includes merchants, enterprises, corporations, governments and financial institutions in both domestic (India) as well as international markets. Infibeam Avenues' international operations are based in the United Arab Emirates, Kingdom of Saudi Arabia, Australia and the United States of America. We also have business presence in Oman working with three of the largest banks in the country.

About Vibrant Gujarat Global Summit:

The Vibrant Gujarat Global Summit is a flagship event organized by the Government of Gujarat to foster economic and business partnerships on a global scale. Now in its 10th edition, the summit serves as a platform for dialogue, collaboration, and investment across various sectors.

For more information, please, visit https://www.vibrantgujarat.com

For more information on the company, please go to, www.ia.ooo and www.ccavenue.com

Infibeam Avenues Invests Rs 25 Crore in Pirimid Fintech for 49% Stake

Infibeam Avenues Ltd Makes Strategic Foray into Capital Market Tech Space,

Picks Up 49% Stake in Pirimid Fintech.

Infibeam Avenues Ltd, a listed fintech company, announces its strategic foray into the capital markets and digital lending software market by acquiring a significant 49% equity stake in Pirimid Fintech, investing Rs 25 crore to solidify this strategic partnership.

This move is in direct response to the surging demand in the thriving global capital markets for cutting-edge secured and zero latency AI backed software to streamline trading, research and investment processes. Artificial Intelligence (AI) is transforming the capital market, with stockbrokers, mutual funds, corporate treasuries, and investment banks using AI backed trading software for algorithmic trading strategies, which not only boosts performance, accuracy, and returns but also enhances compliance, fraud detection and prevention.

Alongside its established presence in the capital markets technology space, Pirimid Fintech is also making significant strides in the digital lending sector with capabilities around modern loan origination systems, data sourcing and advanced business rule engine (BRE). Leveraging the expertise and technological foundation provided by Infibeam Avenues, Pirimid Fintech is poised to develop innovative digital lending solutions to streamline the lending process, offering faster and more efficient credit disbursement, enhanced customer experience, and improved risk management through advanced data analytics and AI algorithms.

Pirimid Fintech caters to a diverse clientele across global and domestic capital markets. The company specializes in developing customized capital markets and digital lending products, tools, services, and workflows to meet specific client needs. Notable clients include BidFX, a subsidiary of the prestigious Singapore Exchange (SGX), as well as financial institutions like Bank of Baroda and Indian fintech player Lendingkart.

Expressing his enthusiasm, Mr. Nirav Prajapati, CEO, Pirimid Fintech said, “We are very excited about this investment and strategic partnership with Infibeam as they are leaders in digital payments developing cutting-edge AI solutions for financial transactions. Their expertise in building highly secured and scalable technology frameworks will enhance our capabilities and their proven technology solutions will seamlessly integrate with our robust tech solutions, effectively addressing the rising demand for risk mitigation and enhanced operational safety in online capital market trading & digital lending systems.”

This strategic partnership will integrate Infibeam's digital payments and AI-based frameworks with Pirimid Fintech's capital market trading software for its clients in India and globally. This integration aims to not only improve the performance of Pirimid Fintech's clients but also address and meet regulatory concerns regarding the safety and security of stock market trading. Globally, market regulators are prioritizing trust, security, and risk management in capital markets. As per Juniper Research forecasts the AI-driven financial fraud detection sector to grow from $6.5 billion in 2022 to $10 billion by 2027, marking a substantial 57% increase.

Unlocking Additional Revenue Streams: Infibeam Avenues Seizes Compelling Growth Opportunities.

The strategic investment promises to propel the company not only to new heights in the capital market technology space and positioned itself as a key player in the evolving landscape of capital market technology but will also offers an opportunity to build upon its existing payments and platform business for this new business vertical.

“Pirimid has built a robust product for capital markets stakeholders and this strategic investment opens up a compelling growth opportunity to capitalize on our existing digital payments and platform solutions, by creating a synergy with the Capital market tech products,” said, Mr. Vishal Mehta, Chairman & Managing Director, Infibeam Avenues Ltd.

Infibeam Avenues Ltd, which had processed worth US$54 billion of transaction in FY23, expects to witness an increase in its payment processing business through this strategic investment. The company will plug-in or offer its flagship payment gateway brand – CCAvenue with Pirimid Fintech’s capital market & digital lending tech software products for its end user clients, which would upsurge the payment transaction processing volumes, resulting into revenue increase from Infibeam’s payment business.

Globally, capital market or stock market processes multiple payment transactions per day, much higher than the ecommerce or offline payment channels like POS. According to various market research, the global online trading platform market reached a valuation of $8.9 billion in 2021 and is anticipated to reach $18.4 billion by 2031. This represents a compound annual growth rate (CAGR) of 7.8% from 2022 to 2031.

Infibeam Avenues Ltd. is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks. The core Payment Gateway (PG) business provides over 200 plus payment options to the merchants allowing them to accept payments through website and mobile devices in 27 international currencies. Infibeam Avenues' enterprise software platform hosts India's largest online marketplace for government procurement. The company processed transaction worth INR 4.5 lac crore (US$ 54 billion) in FY23. Company currently has over 8 million plus clients across digital payments and enterprise software platforms. The company's vast clientele includes merchants, enterprises, corporations, governments and financial institutions in both domestic (India) as well as international markets. Infibeam Avenues' international operations are based in the United Arab Emirates, Kingdom of Saudi Arabia, Australia and the United States of America. We also have business presence in Oman working with three of the largest banks in the country.

Infibeam Avenues to Develop Self-Sufficient & Symbiotic Artificial Intelligence (AI) Ecosystem for Tech and AI Businesses

• Successfully acquired Sintex Corporate House from Aavas Trust (Aditya Birla Group) for around Rs 1 Billion.
• Poised to reap significant benefits from the Gujarat Government’s IT/ITeS Policy 2022-27
• IT/ITes policy offers one-time CAPEX support of up to Rs 2 Billion.
• Company aspires to emerge as a key player in the AI-based fraud detection and prevention market.
• Global fraud detection & prevention market size was $26 Billion in 2021 & is projected to surge to $129 Billion by 2029.

Infibeam Avenues Ltd, India’s leading listed fintech company, today announces that the company has moved one step closer towards successfully executing its plan for fostering the development of an AI and tech ecosystem, which can be finely tuned to meet the specific requirement of the company’s Artificial Intelligence (AI) operations while facilitating AI startups and businesses flourishing independently in a mutually beneficial ‘symbiotic’ framework.

As a preliminary move in establishing the envisioned IT and AI Hub ecosystem, the Infibeam Avenues Ltd’s subsidiary Infibeam Projects Management Pvt Ltd has successfully acquired the partially constructed Sintex Corporate House from Aavas Trust, owned by Aditya Birla Group. The deal has been concluded with an investment of approximately INR 1 Billion, securing a plot area spanning about 76,250 square feet, along with a partially constructed building covering an area of 420,000 square feet.

The newly acquired building will be an extension of Infibeam Avenues Ltd’s planned GIFT city AI Hub. In the first quarter of FY24, the company had announced its major plans to foray into Artificial Intelligence (AI) enabled fraud detection & prevention market space and a plan to come up with India’s first AI Hub at GIFT city.

The company is poised to reap significant benefits from the recently introduced IT/ITeS Policy 2022-27 by the Gujarat Government. This policy not only offers a plethora of incentives and advantages, but one standout feature is the one-time CAPEX support of up to INR 2 Billion. The company is eager to leverage this incredible opportunity and expects to harness the full potential of this policy to fuel its growth and success.

"We are focusing on cultivating a harmonious AI and tech self-sufficient and symbiotic ecosystem, one that will not only bolster Infibeam's expansion within the AI and software development sector but also nurture the emergence of independent AI and technology enterprises in India," said Mr. Vishal Mehta, the Chairman and Managing Director of Infibeam Avenues Ltd.

Mr. Vishal Mehta

The Ahmedabad campus, which will be the extension of GIFT city’s AI Hub, will have company’s own in-house team and it will house strategically invested AI and technology businesses under one roof, further enhancing the synergy and innovation within the ecosystem.

As part of the 'Symbiotic' framework, AI and tech companies will gain access to dedicated space within the 'AI & Tech Hub, where they can work in a collaborative ecosystem. This strategic location will empower these enterprises to offer their specialized products and services to enhance Infibeam Avenues Ltd's Artificial Intelligence (AI) operations. Concurrently, the company will also provide a comprehensive support system that nurtures these businesses, enabling them to flourish independently while contributing to a thriving AI ecosystem.

Mr Vishal Mehta further emphasized that the successful culmination of this deal represents a pivotal stride in the establishment of enduring AI ventures, catering to both domestic and global markets, particularly in the realm of fraud detection.

The company aspires to emerge as a key player in the AI-based fraud detection and prevention market, which had an estimated market size of approximately US$26 Billion in 2021 and are projected to surge to US$129 Billion by 2029.

To facilitate these endeavours, the company established its dedicated AI vertical business unit, known as FAR (Fraud Detection, Authentication, and Risk Identification). Within this unit, the company will develop a range of tailored AI-based products and services designed to identify payment and financial frauds across various sectors, including banking, financial services, insurance, FMCG, manufacturing, fintech, utilities, government, and government agencies.

The company’s consolidated net profit, excluding the mark-to-market movement from investment in listed security, rose 191% YoY to INR 383 Million in the second quarter of FY24, while revenue surged by 66% to INR 7,899 Million.

About Infibeam Avenues Limited:

Infibeam Avenues Ltd. is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks. The core Payment Gateway (PG) business provides over 200 plus payment options to the merchants allowing them to accept payments through website and mobile devices in 27 international currencies.

Infibeam Avenues' enterprise software platform hosts India's largest online marketplace for government procurement. The company processed transaction worth INR 4.5 lac crore (US$ 54 billion) in FY23. Company currently has over 8 million plus clients across digital payments and enterprise software platforms. The company's vast clientele includes merchants, enterprises, corporations, governments and financial institutions in both domestic (India) as well as international markets. Infibeam Avenues' international operations are based in the United Arab Emirates, Kingdom of Saudi Arabia, Australia and the United States of America. We also have business presence in Oman working with three of the largest banks in the country.

Infibeam Avenues Ltd Plans to Tap AI-enabled Fraud Detection Market, To Build India’s 1st AI HUB at GIFT City

• It’s a bold and strategic move with a comprehensive plan to foster AI innovation.
• To tap the burgeoning AI-enabled fraud detection market.
• Initially, the company’s priority areas will be in the digital payments and financial space
• The fraud detection & prevention market size is expected to reach $ 129 billion by 2029.

Infibeam Avenues Ltd, India’s first listed fintech company, announces its plans to foray into Artificial Intelligence (AI) to tap the burgeoning AI-enabled fraud detection market. The company to establish India’s first Artificial Intelligence (AI) HUB headquartered at Gujarat International Finance Tec-City (GIFT City) with an initial focus on fintech & financial sector building AI solutions for Fraud detection, Authentication and Risk identification (FAR) to nurture AI ecosystem & develop solutions for the domestic and global market.

The company plans to make a strategic investment in the next three years to build and nurture the AI HUB. This strategic move includes building an in-house talent pool by hiring AI engineers, data scientists, and other staff, initiating global collaboration and facilitating AI start-ups with access to funding, mentorship, infrastructure and business opportunity for growth.

Mr Vishal Mehta, who is an engineer from Cornell University USA and an alumnus of Massachusetts Institute of Technology, will oversee the daily operation of AI HUB, while continuing as Chairman & Managing Director of Infibeam Avenues Ltd. He is an ex-Amazon executive and has worked closely with Jeff Bezos, founder of Amazon Inc. and his leadership team during the early formative years.

The AI HUB is planned to be a "One-Stop Shop" to bring AI and Machine Learning (ML) into the day-to-day activities as well as analyse data and provide actionable winning fraud detection solutions for businesses, organizations and governments to tackle rising threats to financial systems, businesses and national interest.

Infibeam sits on huge payment processing data, which provides a technology edge to build a deep learning algorithm and models for detecting frauds in the financial space. The company processed transactions worth Rs 4.5 lakh crore (US$ 54 billion) in FY23 and has over 8 million plus clients across digital payments and enterprise software platforms.

"Under FAR (Fraud detection, Authentication and Risk identification) initiative, setting up AI HUB is a bold and strategic move with a comprehensive plan to foster AI innovation, attract talent, and create a supportive ecosystem that will develop and offer frauds management solutions,” said Mr Vishal Mehta, Managing Director, Infibeam Avenues Ltd, adding that only through AI the rising cases of fraud in the payments and e-commerce can be addressed effectively. According to a market report, the fraud detection and prevention market size was $ 25.66 billion in 2021 and is expected to reach $ 129 billion by 2029.

AI plays a significant role in fraud management for organisations by helping them identify, prevent, detect, and respond to fraudulent activities. By utilising AI and machine learning algorithms, combining big data sources with real-time monitoring and utilizing adaptive and predictive analytics techniques, it can detect patterns and anomalies that indicate fraudulent activities, such as payment fraud, identity theft, or phishing attacks. These AI-based solutions can continually adapt and learn from new fraud patterns and trends, continuously improving their detection capabilities. Furthermore, AI-based systems can integrate with other security systems, like identity verification and biometric authentication, to provide a more comprehensive approach to fraud prevention.

"We are at a watershed moment. We believe that AI adoption and awareness in India will reach a high point in the next 3-5 years and the government has already set in motion the vision to make India emerge as a new AI technology innovation hub while simplifying tech adoption across government processes. Our investment will nurture quality human resources in this field and enable developing cutting-edge data-driven intelligence applications for complex, high-value commercial and government use cases,” said Mr Vishal Mehta, Managing Director of Infibeam Avenues Ltd.

Initially, the company’s priority areas will be in the digital payments and financial space, where AI & ML algorithms detect fraudulent activities in online transactions, such as credit cards, online banking or e-commerce, on a real-time basis. In the long term, the in-house team at AI HUB will be developing customised fraud detection and prevention solutions for banking, financial services, insurance, FMCG, manufacturing, fintech, utility sector, government and government agencies.

About Infibeam Avenues Limited:

Infibeam Avenues Ltd. is one of the leading global financial technology (fintech) company offering comprehensive digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. The company's payment infrastructure solution includes acquiring and issuing solutions and offering infrastructure for banks. The core Payment Gateway (PG) business provides over 200 plus payment options to the merchants allowing them to accept payments through website and mobile devices in 27 international currencies. Infibeam Avenues' enterprise software platform hosts India's largest online marketplace for government procurement. The company processed transaction worth INR 4.5 lac crore (US$ 54 billion) in FY23. Company currently has over 8 million plus clients across digital payments and enterprise software platforms. The company's vast clientele includes merchants, enterprises, corporations, governments and financial institutions in both domestic (India) as well as international markets. Infibeam Avenues' international operations are based in the United Arab Emirates, Kingdom of Saudi Arabia, Australia and the United States of America. We also have business presence in Oman working with three of the largest banks in the country.

Infibeam Avenues Acquires Digital Payment Startup Uvik Technologies for Rs 75 Cr in Cash & Stocks

Uvik Technologies strike M&A deal with fintech & digital payment major Infibeam Avenues Ltd

US-based VC firm – Season Two Ventures gets an exit

Uvik the only payments platform in India with a pin-on-glass certification sees a huge demand for contactless payment

Bengaluru-based and a venture capital funded digital startup, Uvik Technologies Private Limited, developer of proprietary contactless technology 'UPoS', strikes a Merger and Acquisition (M&A) deal with Infibeam Avenues Ltd, a listed fintech & digital payment company for Rs 75 crore in cash and stock deal.

This acquisition has been closed and as per the deal, Uvik’s investor, a US-based VC firm -- Season Two Ventures, headed by former UST Global’s CEO Sajan Pillai, will be getting an exit.

“M&A with Infibeam is a strategic step for Uvik towards its next growth story. The focus of offline payments in the next few years is going to be via contactless infrastructure. To achieve this objective, we, at Uvik, have been constantly working towards making payments easy-to-use for merchants with focus on security. The M&A deal with Infibeam is going to help us drive the next level of growth for Uvik through Infibeam’s world-wide presence and merchant acquiring capabilities,” said Rahul Hirve, CEO and Co-founder, Uvik Technologies Private Ltd.

With the onset of COVID pandemic, contactless payments have been rising at a massive rate. To address this huge demand in the market, Uvik decided to develop its proprietary technology that can help any merchant accept card payments on their mobile phone. After months of hard work and intense R&D, Uvik created its SoftPOS solution - UPoS and got it certified by Visa, MasterCard and Rupay for ticket size < Rs 5000 and > Rs 5000. Uvik is the only payments platform in India with a pin-on-glass certification.

Importantly, with Visa, MasterCard and NPCI being aggressive in their plans to drive contactless payments, SoftPOS is expected to become bigger and better. Additionally, with POS and MPOS devices having challenges like infra and setup costs, distribution and others, contactless payments can provide an attractive alternative to retailers.

“Payments ecosystem has been rapidly evolving over the past few years through demand-driven influences and regulatory-driven pushes. UPI, BNPL, tokenization and checkout flows have ushered in a new trend in payments. Contactless Payments is going to be the next big driver in payments with focus on making payments cashless, contactless, riskless and seamless,” said Amartya Singh, Co-founder, Uvik Technologies Private Ltd.

Uvik has a 25+ member team led by Rahul Hirve, CEO and Co-founder, and Amartya Singh, Co-founder. Rahul, an alumnus from IISc Bangalore, has 17+ years of experience at firms like Ezeetap, Western Digital & MPhasiS. Amartya, an alumnus from IIM Bangalore and NIT Rourkela, has 12+ years of experience at firms like Cashfree Payments, KPMG and Samsung.

About Uvik Technologies:

Uvik is India's Only Offline Card Payment Stack Provider which seamlessly integrates with businesses and merchant applications willing to accept card present transactions (Visa/Mastercard/Rupay). Uvik has achieved Product Market Fit with acceptance of contactless payments via App/SDK on Merchant-facing applications. Uvik was co-founded in July 2019 and has Rahul Uvik and Amartya as its Co-founders.

Indibeam Launches Earning Platform for Writers Across the Country

Ahmedabad-based young digital entrepreneur, Rahul Prajapati has created a platform to aspire the writers who wants to read, write as well as want their posts to be shared across the world. He started a website name Indibeam with his partners Abhishek Jungi and Rajesh Sardhara. If anyone want to promote their brand, they can easily reach to Indibeam website and turn their thoughts into words with a huge readership. Consequently, you no longer must think twice before putting up your best-chosen words to get started. So, if someone is looking for a platform to truly express themselves, they can join the bandwagon of change on Indibeam. As a result, the way you spread your words has been transformed and your voice will be heard.

[caption id="attachment_148580" align="aligncenter" width="565"] Rahul Prajapati - Digital Marketing Expert[/caption]

In the compassionate world where young mind unites, comes out the success glowing like the first ray of sunrise. From the world of vision, this digital platform is enjoying the journey of acquiring its dreams now. Indibeam's first and foremost concern is their writers. It promises to stand by the side of their writers guiding them in each path and supporting them. Indibeam is the digital revolution steadily taking heights that need no watching back. They are focused on their area of work and are the fastest-growing writers' community platform.

Rahul said that, "If your article is getting appreciation, then we will promote your content and reach many more audiences. You can easily promote and market your brands by penning down on our website. Our future plan is to give revenue to our writers based on the appreciation given by the readers."

Rahul also has five-year experience in digital marketing to help businesses to achieve their goal. He is specialized in developing a marketing plans and strategies to expand businesses on social media and other digital platforms. He has expertise in Facebook Ads, SEO, Twitter, Google Ads, Instagram Marketing and YouTube Marketing. He is famous for providing digital solutions suitable as per client's requirement that too at very competitive cost.

Rahul Prajapati has more than 50K followers on Twitter and 1 million reach on all over Social Media platforms.

For more details, please visit:www.rahulreply.com or www.indibeam.com.

Infibeam Terminates Acquisition Deal worth ₹120 Crore to Buy Snapdeal-owned Unicommerce

India’s first listed e-commerce firm, Infibeam Incorporation, which in May this year had announced to acquire Snapdeal’s subsidiary Unicommerce eSolutions for up to Rs 120 crore in stock, has now terminated the deal.

In a dramatic turn of events, the Ahmedabad-based Infibeam told stock exchanges in a filing on Friday that the share purchase agreement (SPA) has been terminated as the conditions precedent were not fulfilled within the stipulated time period.

In May this year, Infibeam Avenues had announced signing a definitive sales and purchase agreement (SPA) with Unicommerce eSolutions and Jasper lnfotech (the parent of Snapdeal) to acquire 100% in Unicommerce.

It had pointed out that the acquisition would boost its e-commerce enabling capabilities and expand the product offerings for existing clients. The transaction was scheduled to close in three-five months.

According to the May filing, Infibeam was to issue optionally convertible debentures on a preferential basis to Jasper Infotech valued up to Rs 120 crore, subject to shareholders’ approval.

It had then said that Unicommerce eSolutions had a net worth of Rs 24.63 crore and a turnover of Rs 20.27 crore as on March 31, 2018.

In a separate statement, a Unicommerce spokesperson said “both the parties have mutually decided not to give effect to the said agreement”.

Unicommerce caters to more than 15% of India’s e-commerce transactions and has a growing presence in West Asia and South Asia and according to the spokesperson, the company will continue to deepen and expand its presence in India and key overseas markets.

“Accordingly, there will be no change in the shareholding structure of Unicommerce, which will continue to operate as a profitable and independently managed company,” the spokesperson added.

Started by a group of IIT/IIM graduates - Karun Singla and Manish Gupta in 2012, Unicommerce offers e-commerce enabling software for warehouse management and omni-channel services and has over 10,000 sellers, brands and online retailers as its clients. Before being acquired by Snapdeal in 2015, Unicommerce had raised funding from Tiger Global [Read here] and Nexus Ventures Partners in different funding rounds.

As part of the Snapdeal 2.0 strategy, which the e-tailer charted after its merger talks with Flipkart hit a dead end, It is looking to pivot to a pure play marketplace model. It will lay off a chunk of its workforce in the process. Shedding off its associated entities FreeCharge, Unicommerce and Vulcan was also reportedly part of the strategy.

Source - The Telegraph

Snapdeal's Investment & Strategy Chief Quits To Join Infibeam As President

Jason Kothari, Chief Investment and Strategy Officer at e-commerce firm Snapdeal, has quit the company to join Ahmedabad-headquartered Infibeam.

Jason, who was a classmate of Snapdeal founder Kunal Bahl at Wharton School, joined Snapdeal in January 2017, prior to which he was with real estate portal Housing.com. Jason will now move to Infibeam as its president, leading the strategy, corporate development, international operations and investor relations functions at India’s first listed e-commerce company.

Infibeam managing director Vishal Mehta, in a statement to ET, said, "Jason joins us with a history of high-impact business and strategic leadership where he has changed their outcomes and created significant value for all stakeholders. At Infibeam, we will leverage his valuable experience to help realise our global plan and drive the next era in the company’s evolution."

It must be recalled that in last July, it was rumored that Infibeam was in serious talks to merge Snapdeal in to itself. Infibeam aimed to create a combined $2-billion entity if the merger talks with Snapdeal would have had successfully went through.

Notably, in March 2017, Jason was also appointed as the CEO of FreeCharge, a digital wallet of Snapdeal later sold to Axis Bank. Moreover, it was Jason who managed the sale of Snapdeal’s e-commerce management firm Unicommerce to Infibeam for Rs 1.2 billion in May, and logistics arm Vulcan to Future group for ₹35 Crore.

Interestingly, when Jason was just 15, he was an assistant to Hollywood action star Jackie Chan.

Jason graduated from The Wharton School of the University of Pennsylvania with a bachelor's degree in Finance. He is also the co-founder of Valiant Entertainment, a company which has a library of 1,500 characters, including X-O Manowar, Bloodshot, Harbinger, Shadowman, Archer & Armstrong. He was the CEO of Valiant Entertainment from 2007 to 2013.

Via - Economic Times | Wikipedia

Snapdeal's Investment & Strategy Chief Quits To Join Infibeam As President

Jason Kothari, Chief Investment and Strategy Officer at e-commerce firm Snapdeal, has quit the company to join Ahmedabad-headquartered Infibeam.

Jason, who was a classmate of Snapdeal founder Kunal Bahl at Wharton School, joined Snapdeal in January 2017, prior to which he was with real estate portal Housing.com. Jason will now move to Infibeam as its president, leading the strategy, corporate development, international operations and investor relations functions at India’s first listed e-commerce company.

Infibeam managing director Vishal Mehta, in a statement to ET, said, "Jason joins us with a history of high-impact business and strategic leadership where he has changed their outcomes and created significant value for all stakeholders. At Infibeam, we will leverage his valuable experience to help realise our global plan and drive the next era in the company’s evolution."

It must be recalled that in last July, it was rumored that Infibeam was in serious talks to merge Snapdeal in to itself. Infibeam aimed to create a combined $2-billion entity if the merger talks with Snapdeal would have had successfully went through.

Notably, in March 2017, Jason was also appointed as the CEO of FreeCharge, a digital wallet of Snapdeal later sold to Axis Bank. Moreover, it was Jason who managed the sale of Snapdeal’s e-commerce management firm Unicommerce to Infibeam for Rs 1.2 billion in May, and logistics arm Vulcan to Future group for ₹35 Crore.

Interestingly, when Jason was just 15, he was an assistant to Hollywood action star Jackie Chan.

Jason graduated from The Wharton School of the University of Pennsylvania with a bachelor's degree in Finance. He is also the co-founder of Valiant Entertainment, a company which has a library of 1,500 characters, including X-O Manowar, Bloodshot, Harbinger, Shadowman, Archer & Armstrong. He was the CEO of Valiant Entertainment from 2007 to 2013.

Via - Economic Times | Wikipedia

Fairfax Financial Looks To Back Infibeam For A Minority Stake In E-commerce Firm

To grab a minority stake in the company, Fairfax Financial Holdings is reportedly in advanced talks with Infibeam, Ahmedabad-based online listed e-commerce startup.

According to the media reports, the company is looking to invest around Rs 1,200 to Rs 1,500 crore in the company, for a stake of around 10 to 12 percent. Infibeam reportedly will use the funding to fund its expansion plans. As told to ETtech, KPMG has helped with the valuation for the deal and investment bank CLSA Singapore has been advising Infibeam.

Not only this, the report suggests that Fairfax has convinced other investors including CDPQ, Fidelity and Canada Pension Plan Investment Board (CPPIB) who had earlier shown interest in picking up a stake in the company.

If reports to be believed, the investment is expected to take place at a premium of about Rs 1,500 per share to the current market price of Rs 1,438.

Commenting on the development, a person aware of the development said, “Either the company will look to acquire a company or will help a global player with its India entry. In both cases it needs capital.With its global reach and deep pockets, the evergreen fund (Fairfax) was a preferred partner for the company.”

Founded in 2007 by Sachin Dalal, Infibeam is the only profitable e-commerce marketplace in India. The company went public in April last year with listing on NSE. Recently, Infibeam was involved in the merger talks with troubled e-commerce platform Snapdeal. However, the deal didn’t work out.

According to Vishal Mehta, CEO of the company the company will be investing around Rs 37.5 crore in the e-commerce segment this year to expand to 75 cities in the country.

Infibeam posted a net profit of Rs 19.7 crore for the quarter that ended June 30 (Q1 FY17), growing 107% from Rs 9.6 crore in the same quarter. Its net profit also grew 44.85 percent from the preceding quarter.

Infibeam Denies Snapdeal Merger

Everyone in the Indian ecommerce sector was taken by surprise yesterday when the news broke out that Ahmedabad-based Indian internet and e-commerce conglomerate, Infibeam was involved in merger talks with the currently on sale, troubled e-commerce site, Snapdeal. It was even reported that Infibeam has even furnished a term sheet, which valued Snapdeal at USD 1billion, which was the initial asking price asked for the e-commerce marketplace.

But, now Infibeam founder and MD Vishal Mehta in a telephonic conversation with Economic Times has denied any such conversations happening between the two companies. Putting it out in simple, straight words, He said, "No, we haven't made any offer to Snapdeal."

Last week, Snapdeal rejected Flipkart's $850 million buyout offer as Snapdeal’s board felt that the offer made by the Indian ecommerce firm undervalued their company (Read Here). However, according to some sources, Flipkart isn't ready to take no for an answer yet and has decided to give its rival company a new improved offer, which is likely to be close to USD 1 billion (Read Here).

Industry experts keeping a watch on the latest development shared that since Infibeam focuses on business-to-business commerce and Snapdeal is a full-blown consumer-led online retail platform, their coming together would have been a match made in heaven. In add to this, Infibeam being interested in Snapdeal doesn't mark the end of the road for Flipkart. Both the players can cross-sell their products as their merchants are largely different.

Though Infibeam MD might have denied about any such talks taking place, we know there is no smoke without fire. According to the ET report, sources have informed that an offer from Ahmedabad-based company has the potential of giving liquidity to all the stockholders of Snapdeal, a list that includes glowing names such as Chinese ecommerce major Alibaba Group, and venture capital firms Kalaari Capital and Nexus Venture Partners.

According to ET sources, Infibeam will be making a formal decision on the matter only when both Flipkart and Infibeam furnish an official offer letter on the table.

The Flipkart-Snapdeal merged entity is expected to give a major push to the current cut throat competition going on between Jeff Bezos' Amazon and India's very own homegrown e-commerce leader, Flipkart. Reportedly, Bezos' has recently decided to spend a whopping amount of $5 billion in India to gain significant share as the e-commerce market surges in the Indian subcontinent.

According to Masayoshi Son, SoftBank founder, the deal if goes through can prove to be a win-win situation for both homegrown e-commerce players. Sources inform that the Son, whose company owns about a third of Snapdeal parent Jasper Infotech Pvt. Ltd. could contribute that equity to the merged entity and infuse another $500 million to $1 billion in Flipkart through a transaction with Flipkart backer Tiger Global Management. The amount will give Flipkart more fuel to battle it out with Amazon.

Infibeam Denies Snapdeal Merger

Everyone in the Indian ecommerce sector was taken by surprise yesterday when the news broke out that Ahmedabad-based Indian internet and e-commerce conglomerate, Infibeam was involved in merger talks with the currently on sale, troubled e-commerce site, Snapdeal. It was even reported that Infibeam has even furnished a term sheet, which valued Snapdeal at USD 1billion, which was the initial asking price asked for the e-commerce marketplace.

But, now Infibeam founder and MD Vishal Mehta in a telephonic conversation with Economic Times has denied any such conversations happening between the two companies. Putting it out in simple, straight words, He said, "No, we haven't made any offer to Snapdeal."

Last week, Snapdeal rejected Flipkart's $850 million buyout offer as Snapdeal’s board felt that the offer made by the Indian ecommerce firm undervalued their company (Read Here). However, according to some sources, Flipkart isn't ready to take no for an answer yet and has decided to give its rival company a new improved offer, which is likely to be close to USD 1 billion (Read Here).

Industry experts keeping a watch on the latest development shared that since Infibeam focuses on business-to-business commerce and Snapdeal is a full-blown consumer-led online retail platform, their coming together would have been a match made in heaven. In add to this, Infibeam being interested in Snapdeal doesn't mark the end of the road for Flipkart. Both the players can cross-sell their products as their merchants are largely different.

Though Infibeam MD might have denied about any such talks taking place, we know there is no smoke without fire. According to the ET report, sources have informed that an offer from Ahmedabad-based company has the potential of giving liquidity to all the stockholders of Snapdeal, a list that includes glowing names such as Chinese ecommerce major Alibaba Group, and venture capital firms Kalaari Capital and Nexus Venture Partners.

According to ET sources, Infibeam will be making a formal decision on the matter only when both Flipkart and Infibeam furnish an official offer letter on the table.

The Flipkart-Snapdeal merged entity is expected to give a major push to the current cut throat competition going on between Jeff Bezos' Amazon and India's very own homegrown e-commerce leader, Flipkart. Reportedly, Bezos' has recently decided to spend a whopping amount of $5 billion in India to gain significant share as the e-commerce market surges in the Indian subcontinent.

According to Masayoshi Son, SoftBank founder, the deal if goes through can prove to be a win-win situation for both homegrown e-commerce players. Sources inform that the Son, whose company owns about a third of Snapdeal parent Jasper Infotech Pvt. Ltd. could contribute that equity to the merged entity and infuse another $500 million to $1 billion in Flipkart through a transaction with Flipkart backer Tiger Global Management. The amount will give Flipkart more fuel to battle it out with Amazon.

Snapdeal and Infibeam Involved in Merger Talks

Troubled e-commerce firm Snapdeal seems to have caught the interest of another buyer apart from Flipkart. According to a report in the Times of India, Ahmedabad-based Indian internet and e-commerce conglomerate, Infibeam is involved in serious merger talks with the currently on sale e-commerce site.

The report divulged that Infibeam, which is involved in online retailing, e-commerce software and internet services, has even furnished a term sheet, which is likely to value Snapdeal at USD 1billion. Notably, the $1 billion amount was the initial asking price for acquisition of troubled e-commerce marketplace. For the uninitiated, a term sheet is a legal non-binding agreement that carries terms and conditions under which a particular investment will be made.

The rumour comes on the line of recent developments where Snapdeal rejected Flipkart's $850 million buyout offer as Snapdeal’s board felt that the offer made undervalued the company (Read Here). However, according to some sources, Flipkart isn't ready to take no for an answer yet and has decided to give its rival company a new improved offer, which is likely to be close to USD 1 billion (Read Here).

Infibeam, which has a market capitalisation of around Rs 6,100 crore, aims to create a combined $2-billion entity if the merger talks with Snapdeal successfully goes through. According to the report, the merger will most likely not include Snapdeal's payments platform Freecharge and logistics business Vulcan Express as Snapdeal is reportedly hunting different buyers for them. Recently, we reported how Indian global telecommunications services company, Airtel is looking to get its hand on online mobile wallet platform, FreeCharge (Read here).

According to experts, considering the fact that Infibeam focuses on business-to-business commerce and Snapdeal's is a consumer-led online retail platform, their coming together will be a match made in heaven. However, the TOI source also clarified that Infibeam being interested in Snapdeal doesn't mark the end of the road for Flipkart. The source said, both the players can cross-sell their products as their merchants are largely different.

As of now, Snapdeal has three opportunities in front of it- finalise a deal with Flipkart, merge with Infibeam or sell its assets such as Freecharge and Vulcan Express to have enough capital to stand on its own feet.

Snapdeal and Infibeam Involved in Merger Talks

Troubled e-commerce firm Snapdeal seems to have caught the interest of another buyer apart from Flipkart. According to a report in the Times of India, Ahmedabad-based Indian internet and e-commerce conglomerate, Infibeam is involved in serious merger talks with the currently on sale e-commerce site.

The report divulged that Infibeam, which is involved in online retailing, e-commerce software and internet services, has even furnished a term sheet, which is likely to value Snapdeal at USD 1billion. Notably, the $1 billion amount was the initial asking price for acquisition of troubled e-commerce marketplace. For the uninitiated, a term sheet is a legal non-binding agreement that carries terms and conditions under which a particular investment will be made.

The rumour comes on the line of recent developments where Snapdeal rejected Flipkart's $850 million buyout offer as Snapdeal’s board felt that the offer made undervalued the company (Read Here). However, according to some sources, Flipkart isn't ready to take no for an answer yet and has decided to give its rival company a new improved offer, which is likely to be close to USD 1 billion (Read Here).

Infibeam, which has a market capitalisation of around Rs 6,100 crore, aims to create a combined $2-billion entity if the merger talks with Snapdeal successfully goes through. According to the report, the merger will most likely not include Snapdeal's payments platform Freecharge and logistics business Vulcan Express as Snapdeal is reportedly hunting different buyers for them. Recently, we reported how Indian global telecommunications services company, Airtel is looking to get its hand on online mobile wallet platform, FreeCharge (Read here).

According to experts, considering the fact that Infibeam focuses on business-to-business commerce and Snapdeal's is a consumer-led online retail platform, their coming together will be a match made in heaven. However, the TOI source also clarified that Infibeam being interested in Snapdeal doesn't mark the end of the road for Flipkart. The source said, both the players can cross-sell their products as their merchants are largely different.

As of now, Snapdeal has three opportunities in front of it- finalise a deal with Flipkart, merge with Infibeam or sell its assets such as Freecharge and Vulcan Express to have enough capital to stand on its own feet.