Mumbai Based Payments Entity Acquires 5% Stake in Infibeam for Rs 25 Crore
Suvidhaa Infoserve which is a payments entity based in Mumbai has acquired 5% stake in the popular online e-commerce and payment solution company Infibeam.com. The deal has been valued at Rs 25 crore.Infibeam Avenues which owns Infibeam.com said that its board of directors has entered into a binding MoU with Suvidhaa which has around 90,000 retailers for money remittance and other services across the country.Through this association and partnership, the company will enter into a strategic partnership with Suvidhaa for last mile delivery of products and services.
Also, Suvidhaa will leverage the offline presence to sell products for Infibeam and in turn, Infibeam will get access to far off locations to sell its products through the assisted model.Slowly, the...