wordpress blog stats
Connect with us

Hi, what are you looking for?

Freecharge raises $33M from Sofina, Sequoia Capital and RuNet

freechargeOnline recharging and couponing site Freecharge.in has raised $33 million in a Series B round of funding from Sofina, Sequoia Capital and RuNet. The company will use the funds to build up its advertising platform, which allows brands to target users based on their online and offline purchases.

Freecharge.in works by offering its users options to pay utility bills or recharge mobile phones via its website or mobile app. On selecting the type of recharge, users are given options to pick a free or paid coupon of their choice near the value of their recharge, which is subsequently mailed to them. Payments can be made via debit/credit cards, net banking or cash cards.

The platform currently supports recharges for prepaid and postpaid mobile operators including Docomo, Airtel, Aircel, Reliance, Uninor, Virgin CDMA/GSM, MTS and Vodafone among others, DTH operators including DishTV, Reliance Digital, Airtel Digital, Sun Direct, Tata Sky and Videocon D2H and major prepaid data card providers including MTSBlaze, Airtel, BSNL, TATA Photon etc. It offers coupons from various online and offline businesses like flipkart, McDonald, amazon.in, Domino’s pizza, ebay.in, Costa coffee, Jabong.com, Barista, infibeam.com, KFC etc.

Founded in 2010, Freecharge had raised Rs 20 crore from Sequoia in 2012 following a seed investment by the company in 2011. Last month, the company acquired the offline app store Preburn and had its team join Freecharge after the company had Pravin Jadhav and Kulin Shah from the now defunct social wishlist site Wishberg join in July. The company also appointed a new CEO, Alok Goel, in September last year who took over from founder and erstwhile CEO Kunal Shah. In April this year, COO Deap Ubhi, who had joined the company in May 2012, quit to join Amazon US as a part of its AWS team.

Competition:

Advertisement. Scroll to continue reading.

– Online recharge portal Paytm introduced a new online shopping section, extending its mobile-only physical goods market to the web in June this year. The company had previously introduced bus ticket bookings in December 2012.

JustRechargeIt, another online recharge service had tied-up with bus ticket booking service AbhiBus to offer bus ticket bookings for 1500 operators over 15000 routes.

Spice Digital had launched an online payment service for mobile and online recharges, coupons and its online store Saholic called Spice Deck, in July 2012.

– Others players in the online recharge market include ezrecharge.in, rechargeitnow.com, easymobilerecharge.com, rechargemania.com, clicknpay.co.in among others.

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

News

Existing consumer protection regulations are not sufficient to cover the extent of protection that a crypto-investor would require.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ