Mumbai: Infibeam Avenues Ltd, a fintech and fee infrastructure firm, has introduced restructuring and consolidating its worldwide enterprise to faucet and develop its international digital fee gateway infrastructure market.
The corporate’s three fully-owned worldwide subsidiaries – Infibeam Avenues Australia Pty Ltd (Australian market), AI Fintech Inc. (USA market) and Infibeam Avenues Saudi Arabia for Info Techniques Expertise Co (Saudi Arabia market) will develop into a step-down subsidiary of the corporate after being transferred to Infibeam Avenues Ltd’s UAE-based wholly owned subsidiary, Vavian Worldwide Ltd, which is the second largest fee aggregator within the UAE.
The corporate stated its board has accepted the consolidation of the worldwide enterprise.
The corporate plans to extend its international play within the digital funds area by going aggressively with its flagship model CCAvenue – a digital fee gateway infrastructure supplier in India.
“CCAvenue is the second largest fee aggregator in UAE and quickly increasing within the MENA area processing funds at an annual run-rate of AED 12 billion. To maintain tempo with the rising potentials & necessities of the worldwide marketplace for digital funds infrastructure, the consolidation of worldwide enterprise out of UAE might be a vital step in our pursuit to develop into a world fintech & fee infrastructure firm,” Vishal Mehta, managing director, Infibeam Avenues Ltd.
Presently, the worldwide enterprise contributes 6% to Infibeam Avenues Ltd’s whole income as per the FY2021-22 annual report.
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Supply: Live Mint