E-commerce firm Infibeam Incorporation Ltd has agreed to invest Rs 3 crore ($468,000) in global digital remittance solutions platform RemitGuru.
“As a part of this investment transaction, Infibeam and CC Avenue will invest Rs. 3 crore in RemitGuru wherein Infibeam will invest Rs. 2 crore,” Infibeam said in a statement.
The deal would be a cash deal transaction helping Infibeam to increase cross-border e-commerce business transactions with cash-free modes through fintech solutions.
CC Avenue already holds 26.76 per cent stake in RemitGuru.