About FreeCharge
FreeCharge is a company based in Gurugram (India) founded in 2010 was acquired by Axis Bank in July 2017.. FreeCharge has raised $116.92 million across 5 funding rounds from investors including Axis Bank, Snapdeal and Peak XV Partners. The company has 904 employees as of April 06, 2024. FreeCharge has completed 2 acquisitions, including Preburn and Wishberg. FreeCharge offers products and services including UPI Payments, Mobile Recharge, Bill Payments, and Personal Loan. FreeCharge operates in a competitive market with competitors including PhonePe, MobiKwik, Paytm, MoneyGram and One97 Communications, among others.
- Headquarter Gurugram, India
- Employees 904 as on 06 Apr, 2024
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Freecharge Payment Technologies Private Limited
- Date of Incorporation 14 Jan, 2015
- Jurisdiction Dlf Qe, Haryana, India
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Annual Revenue
$49.51 M (USD)40.88as on Mar 31, 2023
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Net Profit
$5.96 M (USD)119.31as on Mar 31, 2023
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EBITDA
$7.6 M (USD)78.33as on Mar 31, 2023
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Total Equity Funding
$116.92 M (USD)
in 5 rounds
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Latest Funding Round
$80 M (USD), Series C
Feb 05, 2015
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Investors
Axis Bank
& 7 more
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Employee Count
904
as on Apr 06, 2024
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Investments & Acquisitions
Preburn
& 1 more
- Acquired by
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Products & Services of FreeCharge
FreeCharge offers a comprehensive portfolio of products and services, including UPI Payments, Mobile Recharge, Bill Payments, and Personal Loan. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Enables instant money transfers via UPI for users.
Service for quick recharging of mobile phones online.
Platform for paying electricity and other bills securely.
Offers instant digital loans up to Rs. 5 Lakhs.
Funding Insights of FreeCharge
FreeCharge has successfully raised a total of $116.92M across 5 strategic funding rounds. The most recent funding activity was a Series C round of $80 million completed in February 2015. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Series C — $80.0M
- First Round First Round
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2015 | Amount | Series C - FreeCharge | Valuation | Tybourne Capital Management , Valiant Capital Management | |
| Sep, 2014 | Amount | Series B - FreeCharge | Valuation | Sofina , RTP Global | |
| Jan, 2012 | Amount | Series A - FreeCharge | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in FreeCharge
FreeCharge has secured backing from 8 investors, including institutional and venture fund investors. Prominent investors backing the company include Axis Bank, Snapdeal and Peak XV Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital investments are provided by Sofina to emerging companies.
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Founded Year | Domain | Location | |
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Venture capital firm focused on early-stage technology companies
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Founded Year | Domain | Location | |
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Venture capital firm investing in startups and providing support programs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by FreeCharge
FreeCharge has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Preburn and Wishberg. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Instructional support and professional development for educators are provided.
|
2014 | ||||
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Online platform to track goals and wishlists
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2012 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - FreeCharge
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Freecharge Comparisons
Competitors of FreeCharge
FreeCharge operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as PhonePe, MobiKwik, Paytm, MoneyGram and One97 Communications, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Payment, financial, investment, and lending services are provided digitally.
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| domain | founded_year | HQ Location |
Operator of platform for online mobile, DTH recharge, and bill payments
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| domain | founded_year | HQ Location |
Digital payments, financial services, and e-commerce platforms are provided.
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| domain | founded_year | HQ Location |
Cross-border payments are enabled via wallet solutions for consumers.
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| domain | founded_year | HQ Location |
Wallet-based payment solutions are provided for consumers and businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Freecharge
Frequently Asked Questions about FreeCharge
When was FreeCharge founded?
FreeCharge was founded in 2010.
Where is FreeCharge located?
FreeCharge is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Who is the current CEO of FreeCharge?
Mohit Jain is the current CEO of FreeCharge.
Is FreeCharge a funded company?
FreeCharge is a funded company, having raised a total of $116.92M across 5 funding rounds to date. The company's 1st funding round was a Series A of $3.92M, raised on Jun 01, 2010.
How many employees does FreeCharge have?
As of Apr 06, 2024, the latest employee count at FreeCharge is 904.
What is the annual revenue of FreeCharge?
Annual revenue of FreeCharge is $49.51M as on Mar 31, 2023.
What does FreeCharge do?
FreeCharge was established in 2010 in Gurugram, India, within the fintech sector focused on digital payments. Operations center on enabling consumer transactions for mobile recharges, DTH services, electricity, water, telecom, and gas bills, as well as money transfers. Payments are processed via credit or debit cards, bank transfers, and integrated wallets. The platform is accessible through applications on both Android and iOS devices.
Who are the top competitors of FreeCharge?
What products or services does FreeCharge offer?
FreeCharge offers UPI Payments, Mobile Recharge, Bill Payments, and Personal Loan.
How many acquisitions has FreeCharge made?
Who are FreeCharge's investors?
FreeCharge has 8 investors. Key investors include Axis Bank, Snapdeal, Peak XV Partners, RTP Global, and Tybourne Capital Management.
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