Freecharge Acquired
Indian digital payments and financial services platform offering mobile recharge, bill payments, FASTag, UPI, pay-later/instant loans and investment products (mutual funds, digital gold, fixed deposit), plus a payment gateway and enterprise payments app for merchants. Wholly owned subsidiary of Axis Bank since 2017.
Freecharge: Funding Rounds
| Date | Round | Amount | Investors | Source |
|---|---|---|---|---|
| 6 Feb 2015 | Series C | $80 Mn | Sequoia Capital Tybourne Capital Management Valiant Capital Management | source |
| 1 Sep 2014 | Series B | $33 Mn | Sequoia Capital Ru-Net Sofina | source |
| 24 Jan 2012 | Series A | ₹20 Cr | Sequoia Capital | source |
| 1 Jan 2011 | Seed | Undisclosed | Sequoia Capital | source |
Acquisitions
| Date | Acquirer | Acquired | Amount | Source |
|---|---|---|---|---|
| 27 Jul 2017 | Axis Bank | Freecharge | ₹385 Cr ($60 Mn) | source |
| 8 Apr 2015 | Snapdeal | Freecharge | $400 Mn (~₹2,400 Cr) | source |
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Who founded Freecharge?
Freecharge was founded by Kunal Shah, Sandeep Tandon in 2010.
How much funding has Freecharge raised?
Freecharge has raised $115.38 Mn across 4 tracked funding round(s), most recently on 2015-02-06. Figures are compiled from cited public sources.
Who are the investors in Freecharge?
Investors in Freecharge include Sequoia Capital, Tybourne Capital Management, Valiant Capital Management, Ru-Net, Sofina.
What does Freecharge do?
Indian digital payments and financial services platform offering mobile recharge, bill payments, FASTag, UPI, pay-later/instant loans and investment products (mutual funds, digital gold, fixed deposit), plus a payment gateway and enterprise payments app for merchants. Wholly owned subsidiary of Axis Bank since 2017.
Where is Freecharge headquartered?
Freecharge is headquartered in Gurugram, Haryana, India.
What is Freecharge's business model?
Freecharge's core value proposition centers on One app for all recharges & bill payments, Fast UPI scan-and-pay, Credit access for underserved merchants.
How does Freecharge make money?
Freecharge's cited revenue streams include Business support fees (from Axis Bank), Technology services fees (TSP), Merchant checkout commissions.