Thursday, May 11, 2017

Infibeam Incorporation and CC Avenue Jointly invest Rs. 3 Crore in RemitGuru

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.