wordpress blog stats
Connect with us

Hi, what are you looking for?

Infibeam to invest Rs 45 crore in payment gateway CCAvenue


Ahmedabad-based ecommerce company Infibeam has invested Rs 45 crore in payment gateway CCAvenues. In a BSE notification, Infibeam said that it’s wholly owned subsidiary NSI Infinium Global Private Limited has signed a term sheet with CCAvenue parent Avenues India Private Limited.

The companies are in the process of signing a definitive agreement and finalising the percentage of investment. NSI Infinium operates the ecommerce marketplace Infibeam.com and the DIY ecommerce platform BuildaBazaar.ooo. In a statement, Infibeam said that: “Under the business model of e-commerce, the role of payment processor is very crucial in completing the financial transactions after the purchase is made by the customer. The payment integration is a very critical/equally important for the merchant in expanding his merchandise which on the other hand results into higher sales. The advantage to Infibeam would be in form of incremental revenue by way of deep integration for customers shopping on BuildaBazaar merchant store and also on Infibeam.com.”

Note that Infibeam’s BuildaBazaar had launched an ecommerce marketplace called Dhamaal.com, in partnership with Avenues, back in August 2013.

We will have more from CCAvenue regarding this investment and how they view their relationship with Infibeam tomorrow.

Infibeam’s IPO: Infibeam’s Rs 450 crore initial public offering (IPO) was met with lukewarm interest but was fully subscribed on its third and final day, in March this year. Concerns were raised regarding Infibeam’s valuation of shares on Day 1, as the company had fixed a price band of Rs 360 to Rs 432 per share for its public offer. At the end of Day 1, Infibeam’s shares were subscribed 0.16 times with muted interest from retail individual investors and non-institutional investors. On Day 2, 63% of shares were subscribed, with bids for 7.9 million shares of the total issue size of 12.5 million shares.

Next Orbit Ventures investment

In April of this year, Next Orbit Ventures invested Rs 115 crore in Infibeam as part of its IPO, picking up around 5% stake in the ecommerce company. Infibeam had said it will use the funds to expand its business, setup a cloud data center, 57 additional logistics centres, purchase of software and for purchase of property.

Other developments at CCAvenue

– Earlier this year, FreeCharge and CCAvenue partnered to provide FreeCharge customers access to over one lakh merchants of the payment gateway. Following the deal, FreeCharge will be offered as a payment option on CCAvenue’s merchant websites.

– In March 2016, CCAvenue had partnered with online lending platform LendingKart to launch CCAvenue Finance, to allow merchants and consumers of CCAvenue to seek financial assistance. Lendingkart claims it has provided small loans to over 1 lakh online merchants and 8 million checkout consumers.


Updated with information from Infibeam’s filing regarding CC Avenue

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


A survey by the National Payments Corporation of India (NPCI) found that at least 80% of households now use digital payment apps like Paytm,...


In an affidavit filed before the Supreme Court, the Reserve Bank of India (RBI) has said that companies like WhatsApp, Google and Amazon have...


While digital payment adoption began to grow significantly post demonetisation, the COVID-19 pandemic accelerated this shift over the last year, according to PwC India’s...


We missed this earlier.  A technical policy paper authored by researchers at global card network Visa Inc. has proposed a common protocol that can...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ