Infibeam Avenues Prepares for Major Growth in the UAE Indian fintech giant Infibeam Avenues Ltd is making significant moves as it sets its sights on a listing on
Indian fintech giant Infibeam Avenues Ltd is making significant moves as it sets its sights on a listing on the Abu Dhabi Stock Exchange (ADX). The company has recently reorganized its UAE operations to meet the listing requirements and solidify its position in the rapidly growing Middle East market.
In a recent stock exchange filing, Infibeam revealed that it had restructured the shareholding of its UAE-based subsidiary, Avenues World FZ-LLC, in preparation for the listing. The restructure aims to make the firm more aligned with the regulations required for an ADX listing.
Let’s dive into the key changes and the company’s ambitious growth plans in the UAE.
Infibeam has taken important steps to ensure its UAE operations are ready for the ADX listing. The company transferred the “mirror shareholding” of its UAE subsidiary, Avenues World FZ-LLC, to a new Abu Dhabi-based entity, Infibeam Avenues ME SPV Ltd.
This move allows the company to meet ADX requirements for having its headquarters in Abu Dhabi. The restructure means that Infibeam’s wholly owned UAE subsidiary, Vavian International Ltd, will now hold an 80% stake in Infibeam Avenues ME SPV Ltd, which will, in turn, own Avenues World FZ-LLC.
This restructuring aligns Infibeam Avenues with its plans to list on the Abu Dhabi Stock Exchange (ADX). The ADX has strict requirements for companies looking to go public, including the stipulation that the company must have its headquarters in Abu Dhabi. The restructure ensures that Infibeam is on track to meet these regulations and move ahead with its listing plans.
Infibeam has seen impressive growth in its UAE operations over the past few years. Avenues World FZ-LLC, which operates the popular payment gateway CCAvenue.ae, has been at the center of this success. The company has experienced rapid expansion, processing over 1 billion dirhams in transactions in a single month by August 2023.
As of October 2023, CCAvenue.ae had processed more than 24.5 billion dirhams, serving over 5,000 merchants across multiple sectors. The platform has already built strong partnerships with major clients such as Burj Khalifa, Emaar, Damac, Nakheel, and Trump Golf Dubai.
The UAE’s digital payment market is growing fast, with an increasing number of transactions being handled through credit cards, debit cards, and net banking. This rapid growth presents a great opportunity for Infibeam to tap into the market’s potential and expand its service offerings.
In addition to its growing success in digital payments, Infibeam Avenues has been expanding its product portfolio. In 2023, the company introduced mobile-based QR code solutions in the UAE, marking its entry into offline payments in the region. This new offering broadens the company’s services beyond e-commerce and online transactions, enabling it to cater to a more diverse range of businesses and customers.
The expansion into offline payments aligns with the growing demand for contactless transactions in the UAE, where consumers and businesses are embracing digital payment solutions more than ever before.
Infibeam Avenues has also achieved significant milestones in the Middle East and beyond. One of the biggest achievements is the company’s Payment Tokenization Service Provider certification in Saudi Arabia. The Saudi Arabian Monetary Authority awarded this certification to Infibeam, making it one of the first Indian fintech firms to receive such approval in the Kingdom. This certification will allow Infibeam to offer secure payment tokenization services to businesses in Saudi Arabia.
This move strengthens Infibeam’s position as a key player in the Middle East’s digital payments ecosystem. With its cross-border expertise, Infibeam is well-positioned to tap into other regions, such as Saudi Arabia and the wider MENA (Middle East and North Africa) market.
Infibeam Avenues is increasingly focused on the MENA region, where e-commerce and digital payments are growing rapidly. The company’s recent collaborations and investments reflect its commitment to tapping into the booming market.
One of the key partnerships is with PayPal, where Infibeam’s CCAvenue platform is working to expand global payment acceptance across the Middle East and North Africa (MENA). This collaboration is aimed at helping merchants in the region accept international payments and enhance their businesses.
Infibeam’s financial performance also highlights its rapid growth. The company has emphasized its international expansion in its recent earnings announcements, particularly focusing on the Middle East and MENA regions. Initiatives like express settlement for merchants and the launch of CCAvenue TapPay are expected to further boost the company’s growth trajectory.
As the Middle East continues to embrace digital payments, Infibeam is set to capitalize on the market’s potential, with its innovative solutions and expanding product offerings. The company is also increasing investments and partnerships to grow its presence in the region.
Infibeam Avenues is in a strong position to continue its growth, with key restructuring moves and major partnerships in place. The company’s listing on the Abu Dhabi Stock Exchange is a key step in its strategy to expand its reach and attract more global investors.
With the UAE’s digital payments market booming and Infibeam’s strong presence in the region, the future looks bright for the fintech giant. The company is well-positioned to grow its portfolio of clients and expand its operations, particularly in the Middle East and North Africa.
As Infibeam moves forward with its ADX listing plans and continues to innovate in digital payments, the company is poised for success in the years to come.
Infibeam Avenues’ recent restructuring of its UAE subsidiary and its plans to list on the Abu Dhabi Stock Exchange signal an exciting new chapter for the company. With a growing presence in the Middle East and major partnerships already in place, Infibeam is well on its way to becoming a key player in the global digital payments industry.
As the company continues to expand its product offerings and tap into new markets, Infibeam Avenues is positioned to lead the charge in digital transformation across the MENA region.
