Infibeam Avenues elevates Vishwas Patel to MD and CEO, rebrands to AvenuesAI

Infibeam Avenues Ltd is focusing more on its payments and AI businesses as it gets ready for changes in top management and completes its shift away from its old ecommerce platform business.

The company is reorganising itself around CCAvenue, its main payment gateway, and Phronetic.ai, which is now being brought together under a new AvenuesAI brand. Infibeam aims to position itself as a payments and infrastructure company built around AI.

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The company also plans to promote Joint Managing Director Vishwas Patel to Managing Director and CEO, pending approvals. Current Chairman and Managing Director Vishal Mehta will continue to focus on long-term strategy, the company 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 now wants to move faster, offer more value to merchants, and expand its AI-based platforms in India and abroad.

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This renewed focus comes after Infibeam decided to sell its ecommerce platform infrastructure business to its subsidiary Rediff.com India for Rs 800.39 crore, as part of an earlier restructuring. Infibeam bought a 54% stake in Rediff last year and is now merging its platform business into RediffOne, along with email, news, and payment services.

Payments continue to be Infibeam’s main source of revenue. CCAvenue brought in Rs 3,546 crore in revenue and Rs 111 crore in EBITDA last year, compared to Rs 180 crore in revenue and Rs 137 crore in EBITDA from the platform business.

Infibeam is also getting ready to launch RediffPay, a consumer UPI app, to grow its presence in India’s retail payments market.

The company has moved into AI-driven media through Rediff TV and plans to launch an agentic-AI marketplace where developers and businesses can build and run autonomous digital tools.

Rediff is looking to raise new capital, possibly through an IPO, to speed up growth in enterprise software and digital commerce.

Infibeam has also appointed IIM Ahmedabad professor Neharika Vohra as an Independent Director for five years, saying her academic and governance experience will strengthen board oversight as the company expands its payments and AI businesses.

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