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.
