EbixCash announced that it has acquired a 70% stake in 1800 persons, pan- India based BPO company called AssuredEdge Global Services. EbixCash is a fully owned subsidiary of Ebix Inc, which is a leading international supplier of E-commerce services and On-Demand software to the e-learning industries, finance, and insurance. AssuredEdge Global services will be re-branded to EbixCash Global BPO Services.
AssureEdge is recognized as India’s first independent customer response and customer retention organization, with a range of BPO offerings across the country with six contact centers. AssureEdge provides services to 34+ large corporate which include very well-known e-commerce, telecom, BFSI, and entertainment sectors. The primary focus of the company is on top priority areas like customer retention, fulfillment, and sales for its clients. Bhupesh Tambe, CEO, and founder of AssureEdge will continue to lead the company with a 30% stake. Based on increasing commitments the company is presently committed to growing its employee strength to 2,500 by March 2021.
Robin Raina, Chairman of the Board, President, and CEO of Ebix, said that AssureEdge can serve to handle fulfillment, collection, and last-mile delivery for EbixCash as it converges with the EbixCash financial and insurance technology platform. AssureEdge supports the company in pre-sales and post-sales activities for the BSE Ebix insurance platform and helps provide banks and financial institutions with an end-to-end fulfillment solution for lending, wealth management, asset management, and credit card processing solutions.
With operations in 32 international airports, Forex operations of EbixCash have emerged as the leader in India’s airport Foreign Exchange business. The EbixCash Financial exchange portfolio of the company encompasses leadership in domestic and international money remittance, forex, wealth management, etc. in India and other markets. This was possible with the help of the “Phygital strategy” that combines 3,20,000 physical distribution outlets to an Omni-channel online digital platform. The company has established the largest end-to-end financial exchange in India, conducting more than $18 Billion in GMV with a product diversity that expands to B2C distribution, B2B, backend systems that ensure leadership in digital payment solutions, domestic and international money transfer services, travel, insurance, and corporate & incentive solutions.
EbixCash smart class E-learning venture is India’s fast-growing and leading company with more than 70,000 content classrooms. The company seems to grow more in the coming years and they believe the acquisition of a 70% stake in AssureEdge will benefit them.