Snapdeal-owned FreeCharge has been witnessing a 15 percent growth in transaction on a monthly basis as it expands merchant base in the country. The Bengaluru-based company, which aims to have five million merchants over next 18 months, has also crossed the 1,00,000-merchants mark on its platform.
“We hit the one-million transactions a day in February this year and since then, we are growing at a rate of 15 percent every month,” FreeCharge CEO Govind Rajan said.
The company’s merchant partners include brands like Shoppers Stop, McDonalds, Cafe Coffee Day, Cleartrip, RedBus and OYO. ”
“In last 8 months, we have expanded our reach in various sectors like F&B, travel, e-commerce, retail, entertainment, ticketing, among others, making our wallet ubiquitous in consumer’s daily lives,” he said.
He further said FreeCharge is on track to reach 5 million merchants in next 18 months. In April last year, Snapdeal had acquired FreeCharge in one of the biggest deals in e-commerce sector.
While the companies did not disclosed the deal size, it was estimated to be a USD 400 million transaction. The company which offers mobile recharge and utility bill payment services, had started mobile wallet service last year.
After integration with Snapdeal, Freecharge does not break out number of users. In November last year, it had said it garnered 10 million registered active users for its wallet service within 60 days of customer rollout.