Infibeam makes leadership reshuffles, rebrands to AvenuesAI
Infibeam has been recasting its business around CCAvenue, its core payments gateway, and Phronetic.ai, which is being unified under a broader AvenuesAI brand as the company positions itself as an AI-first payments and infrastructure provider.
Infibeam Avenues Ltd is consolidating around its payments and artificial intelligence (AI) units, as it prepares for a top management shuffle and completes a multi-year pivot from its legacy ecommerce platform business.
Infibeam has been recasting its business around CCAvenue, its core payments gateway, and Phronetic.ai, which is being unified under a broader AvenuesAI brand, as the company positions itself as an AI-first payments and infrastructure provider.
The fintech company also plans to elevate Joint Managing Director, Vishwas Patel, to Managing Director and Chief Executive Officer, subject to approvals. Chairman and Managing Director Vishal Mehta will continue overseeing long-term strategy, it said.
“With our strategic transformation complete, and the company entering a phase of accelerated AI-led growth, this is the right moment for Vishwas Patel to assume the role of MD and CEO,” Mehta said.
Patel added that he was “honoured by the trust placed in me by the board.”
Mehta said the company’s priority is “to execute faster, build deeper merchant value, and scale our AI-driven platforms across India and global markets.”
The sharper focus follows Infibeam’s decision to sell its ecommerce platform infrastructure unit to its subsidiary, Rediff.com India, for Rs 800.39 crore, as part of a restructuring announced earlier. The company had acquired a 54% stake in Rediff last year and is integrating its platform business into RediffOne alongside email, news, and payments tools.
Payments remain the firm’s core revenue engine. CCAvenue generated Rs 3,546 crore in revenue and Rs 111 crore in EBITDA last year, compared with Rs 180 crore and Rs 137 crore, respectively, from the platform segment.
Infibeam is also preparing to launch RediffPay, its consumer-facing UPI app, to increase participation in India’s retail payments market.
The company has expanded into AI-led media through Rediff TV and has announced plans for an agentic-AI marketplace that will allow developers and enterprises to build and operate autonomous digital tools.
Rediff is exploring fresh capital, including a possible IPO, to accelerate growth in enterprise software and digital commerce.
Infibeam also appointed IIM Ahmedabad professor Neharika Vohra as an Independent Director for a five-year term. It said her academic and governance background will strengthen board oversight as it scales its payments and AI operations.
Edited by Suman Singh