FreeCharge raises $80 mn from Valiant, others in series C funding

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India’s online mobile recharge & utility bill payment firm, FreeCharge which is backed by U.S. venture capital investor Sequoia Capital,  on Friday received another $80 million in fresh funding from investors including Valiant Capital Management & Tybourne Capital Management.

In September last year, FreeCharge had raised $33 million in Series B funding. The current round makes the total funding in Freecharge close to $117 million.

According to the company’s co founder Kunal Shah, the company has a user base of more than 20 million and there have been 10 million downloads of the app in the past year.85% of the company’s transactions come only from mobile.

 

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