Following the rebranding, the company will discontinue the use of ‘Infibeam Avenues Ltd’ as part of its corporate name and brand
Chairman and MD Vishal Mehta said that Infibeam is progressing towards becoming a full-stack, AI-led digital payment technology company
Infibeam also announced the elevation of Vishwas Patel to the role of MD and CEO from joint managing director
Fintech company Infibeam Avenues plans to rebrand as ‘AvenuesAI’ to position itself as an AI-driven digital payments company.
The company received the approval for the name change from its board. It plans to discontinue the use of ‘Infibeam Avenues Ltd’ as part of its corporate name and brand. The change in name would be subject to regulatory approvals.
Explaining the move, Infibeam chairman and MD Vishal Mehta said, “What began as a payments and ecommerce infrastructure firm is now progressing towards becoming a full-stack, AI-led digital payment technology company. Artificial intelligence will power nearly every layer of our value chain, from authorisation and routing to fraud detection, credit scoring, digital public infrastructure, cloud technologies, and scalable platform architecture.”
Notably, Infibeam has restructured its business model, shifting from multiple platforms to a focused strategy built around CCAvenue for digital payments and AI-driven solutions under its arm Phronetic.AI (legal name Nueromind Technologies).
In line with it, the company also announced the elevation of Vishwas Patel to the role of MD and CEO from joint MD.
In his new role, Patel will assume full responsibility for day-to-day operations and execution of the company’s strategic plans. He will report directly to the board and will lead efforts to scale Infibeam’s businesses, the company said.
Mehta will continue to head the company’s board as chairman and managing director.
Infibeam’s board also appointed academic and leadership expert Neharika Vohra as an additional women director (non-executive, independent) for a five-year term with effect from December 11.
This comes at a time when Infibeam has been making aggressive moves to expand its AI offerings. Amid this, it announced a strategic portfolio alignment earlier this year.
“Infibeam will now operate as a pure-play fintech and AI payments company, while Rediff.com will drive our AI-first platform strategy spanning commerce, content, and consumer engagement,” Mehta said in the Q2 earnings call.
Notably, Infibeam acquired a majority stake in digital content and ecommerce marketplace Rediff in August 2024 to foray into consumer-facing digital financial services as an aggregator.
While announcing its INR 700 Cr rights issue earlier this year, Infibeam said it will use INR 294 Cr of the total proceeds to advance technology development and AI-software related work for its AI arm Phronetic AI, which builds tailored Al software solutions, including a video intelligence platform and an advanced financial fraud detection system. However, the company raised only INR 350 Cr via the rights issue.
On the financial front, Infibeam’s profit after tax surged 43% to INR 67.7 Cr in Q2 FY26 from INR 47.5 Cr in the year-ago quarter. Its operating revenue jumped 93% YoY and 54% QoQ to INR 1,964.9 Cr during the quarter.
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