Ahmedabad,
May 11, 2017:
Infibeam
Incorporation
shakes hands with CC Avenue to invest in RemitGuru - a
global digital remittance solutions platform.
Infibeam
announced
the
signing of agreement as an achor investor on
Thursday.
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. The transaction is supposed to be a cash deal transaction and
this investment will help the e-commerce giant to increase
cross-border e-commerce business transactions with cash-free modes
through fin-tech solutions. The
CC Avenue already holds 26.76% Equity stake in this company,
prior to this
investment.
RemitGuru
is a personalized digital cross border money remittance service
specially created to meet the unique needs of the Indian diaspora
living overseas. It has a secured, scalable and configurable platform
having customers from more than 25 countries. The Company seamlessly
integrates to multiple payment systems and compliance networks across
the world.
