Shapoorji Pallonji-backed fintech company Suvidhaa Infoserve Pvt Ltd said it will pick up a 5 per cent stake for ₹25 crore in NSI Infinium Global Private Ltd, a wholly-owned subsidiary of Gandhinagar-based e-commerce and payment solutions provider Infibeam Avenues Ltd (IAL). Subsequently, NSI will be merged with Suvidhaa Infoserve through a scheme of amalgamation.

NSI is involved in the business of online marketplace and retailing of products to enable sale of various products online by merchants. It also operates online marketplace, infibeam.com. “Subsequent to the merger, all sales channels, including Infibeam.com and channel stores enabling retailing of products by the NSI, will continue to be managed by the merged entity. The technology implementation of webstores for third-party retailers will be managed by Infibeam Avenues,” said a statement by Suvidhaa. Suvidhaa will leverage its existing offline capabilities to scale the product business of Infibeam Avenues, and focus on niche product verticals with margins. Infibeam will leverage the physical retail location of Suvidhaa to offer last-mile logistics across the country.

Suvidhaa said it provides last-mile financial services to more than 40 million unique customers through multiple delivery platforms. It provides services and financial products through its partnerships with more than 300 financial institutions and service providers.