Infibeam Avenues Surges Ahead with AI-driven Growth
Infibeam Avenues reported a 70% increase in profit to Rs 85.50 crore, aided by AI-enhanced pricing control. The fintech firm transferred its e-commerce platform to Rediff.com India Ltd to raise its stake to 82.7%. Infibeam's revenue grew by 72% in the quarter, highlighting digital innovation.
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- India
Infibeam Avenues announced a 70% rise in its profit after tax, reaching Rs 85.50 crore in the June quarter, thanks to improved monetisation from AI-driven pricing strategies. This latest development underscores their focus on enhancing the merchant experience.
The company has approved the transfer of its e-commerce platform to Rediff.com India Ltd for Rs 800.39 crore, elevating its stake in the company from 54.1% to 82.7%. Vishal Mehta, Chairman and Managing Director, praised their AI-embedded fintech offerings for better pricing control.
As Infibeam shifts focus to digital payments and AI innovation, it eyes solid growth pathways. Meanwhile, Rediff explores capital-raising strategies, including a potential IPO, to boost its expansion in the enterprise SaaS and digital commerce industries.
(With inputs from agencies.)
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- fintech
- profit growth
- e-commerce
- CCAvenue
- Rediff
- stake increase
- digital payments
- IPO
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