November 26th, 2018Kunal Shah, the founder of digital payment company FreeCharge has rolled out his own new venture known as Cred which is a financial services platform targeting consumers with high creditworthiness.
For the launch of this startup, the founder has already raised an amount of $25 million (about Rs 177 crore) in funding led by Sequoia...
June 11th, 2018While the mobile wallet industry is emerging at an impressive pace in India, it now is looking actively for the Reserve Bank of India to release interoperability guidelines for the industry.
Notably, RBI's master directions on Mandatory KYC compliance (Issuance and Operation of Pre-paid Payment Instruments) that came in October 2017...
June 2nd, 2018The Bengaluru-based Flipkart-owned company PhonePe has reportedly made its way across 100 million registered users on its platform in less than two years of its inauguration. The company's annual total payments volume (TPV) have also received a boost crossing $20 billion in the month of May.
Paytm, the firm's close rival stated its...
June 1st, 2018Kunal Shah, Co-founder of Payment company Freecharge has successfully raised $30 million from a group of investors led by led by venture capital investor Sequoia Capital, as reported by the sources.
Kunal is starting a new incubator that would be dedicated to helping startups in consumer space.
One of the sources on request of...
January 10th, 2018Flipkarts payment wallet PhonePe today said it has partnered mobile wallet company FreeCharge to allow the latters customers pay for transactions at PhonePes partner merchants.
According to the deal terms, PhonePe has now enabled its over 45 million users to link their existing FreeCharge wallets to the PhonePe app, PhonePe said in a...
November 9th, 2017Payment processor PayPal Holdings Inc on Wednesday launched domestic operations in India, a market already dominated by China’s Alibaba-backed PayTM, the country’s leading digital payments firm.
PayPal’s entry in the Indian market comes as a push for cashless transactions by the Narendra Modi-led government is seeing more people...
July 28th, 2017Kunal Bahl comments on the sale of Freecharge to Axis Bank, says it will provide Snapdeal the "necessary boost in resources" to continue its e-commerce journey.
Just hours after the deal was announced, Bahl wrote to employees seeking to assuage concerns saying Axis Bank intends to not just retain all Freecharge employees but...
July 28th, 2017Private sector lender Axis Bank has agreed to buy mobile payments company Freecharge from Snapdeal for Rs 385 crore, according to filings with the Bombay Stock Exchange.
As per the earlier discussions, Axis Bank came out to be the top bidder which we reported.
"The two boards signed the sale process agreement today," said Rajiv...
July 26th, 2017India's third largest private sector lender Axis Bank Ltd is all set to buy digital payments platform Freecharge from Snapdeal for amount nearing Rs 400 Cr, a much needed relief for Snapdeal.
This payments platform has been seeking a suitable buyer since long, even as its parent company negotiates the terms for its own sale. By this...
July 24th, 2017Recently Snapdeal struggles between the decisions of its co-founders and its largest investor SoftBank Group Corp., where the former are pushing for sale to the only Indian public listed e-commerce Infibeam Inc. or stay independent while the latter wants its sale to bigger rival Flipkart, reported Mint.
Infibeam earlier made an offer...
July 8th, 2017Axis Bank, India’s third largest private sector lender has emerged as one of the key-runner in the race to acquire e-commerce marketplace Snapdeal owned Freecharge, a digital payments platform founded by Kunal Shah.
This payments platform has been seeking a suitable buyer since long, even as its parent company negotiates the terms...
June 28th, 2017
Bangalore, Karnataka, India- Amidst increasing digital payments preference and awareness amongst consumers, FreeCharge today announced that the number of transactions on its platform has crossed 500 million, with the value of these transactions exceeding USD 1.2 billion.
Mobile recharges remain the biggest component of...
