Freecharge gets fund booster as Snapdeal readies to raise $300 million
With a few more days to go for Diwali,
The fundraising exercise will bolster
The ET news report further confirmed that two sovereign funds are also keen on investing in this round. While the identities of these investors haven’t been ascertained yet, this proves that India is becoming a luring ground for investors funding in digital space.
Freecharge’s rival Paytm has raised almost $680 million from Alibaba. This fundraising by Freecharge will help Snapdeal to counter Paytm. Vijay Shekhar Sharma, the founder of the company which owns
However, the new fund raising would not have any secondary components. This would mean that Freecharge investors including Sequoia Capital, hedge funds Valiant Capital and Tybourne Capital, ru-Net and Sofina will keep holding Snapdeal’s stock.