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FreeCharge appoints Anshul Kheterpal as CFO

Anshul Kheterpal

Online payment platform FreeCharge has appointed Anshul Kheterpal as its chief financial officer. Kheterpal will be responsible for the digital payments business strategies at FreeCharge and Snapdeal. FreeCharge had appointed Sharat Khurana as the CFO in November 2014 and it is unclear if Khurana has stepped down, since his LinkedIn profile indicates that he’s still with the company.

Prior to joining FreeCharge, Kheterpal was the CFO of Airtel Money for 2 years, where he was likely in charge of setting up the payments bank in principle, as indicated by his LinkedIn profile. Before that, at Bharti Airtel, he worked as the senior manager of group treasury and funding for 3 years, manager of business strategy and support at the CFO’s office for over 1.5 years, assistant manager of commercial finance for about 2 years and as a management trainee for 8 months.

In September, the company appointed Sudeep Tandon as chief business officer of the company. Tandon would be responsible for corporate strategy and strategic tie ups of the company, and report to Kunal Shah, CEO and co-founder of FreeCharge.

Other developments:

– Late last month, FreeCharge wallet claimed to have crossed 10 million users in 60 days of its launch. The company mentioned that it was adding a million users every 5 days, with the goal of reaching 35 million registered users by March 2016. It did not provide any transactional data, but said that over 90% of its transactions originated from mobile. In October, it claimed to have crossed 5 million mobile wallet users within 4 weeks of launch.

– In October, the company launched a beta Android app called Juice which tracked talktime and data balance and supports operators like Airtel, Vodafone, Idea, BSNL, Reliance GSM and Aircel.

– In September, FreeCharge launched its digital wallet in partnership with the private sector lender YES Bank. The wallet enables payments for consumers using technologies such as host card emulation , near field communications (NFC), QR codes and Bluetooth.

– FreeCharge had also partnered with FINO Paytech, an alternate banking channel and payments bank licensee, to build scale and reach the underserved. It’s worth noting that FINO got its semi-closed prepaid payment instrument license renewed by the Reserve Bank of India in August.

– In April, FreeCharge was acquired by ecommerce player Snapdeal for a reported $450 million, the biggest deal in the Indian consumer internet industry.

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