Axis Bank buys Freecharge for 385 crore in all cash deal, Kunal Bahl congratulates Freecharge team

Twitter Image

Axis bank has confirmed that it has bought Snapdeal's payment arm Freecharge in 385 crore which is all cash deal.

Axis bank will be able to leverage the large customer base of 52 million and will use this data to cross sell it's financial products.

PayTm was also in talks to buy Freecharge, however it backed out of the deal because of price quoted for the buyout.

Kunal Shah, Founder of Freecharge took to Facebook to share his thoughts on the buyout and merger of the company.

Employees of Freecharge will be absorbed into Axis bank and CEO Jason Kothari will leave after taking care of smooth handover of the operations to the new management.

Kunal Bahl, founder of Snapdeal also expressed his happiness after Axis bank declared about the merger.


More from Political Space

Demonetised notes still being being found stashed with people. Police seizes 1.5 crore worth of old 500 and 1000 notes. Yuvraj Singh and his family has been charged in domestic violence case filed by his sister-in-law Here is how India prepares to bypass Supreme court's ban on sale of fire crackers in NCR. Policemne ready to provide patronage to shopkeepers. Two Suspended in the same case. Korea has hired hackers from India says media reports Sanjay Dutt's biopic's new poster has been released. Here is the new look This is the one question we are still asking but can not find a proper answer. Have you seen Najeeb somewhere? 3 People injured in an heart wrenching accident. ANI reported the news.

More News

Did anyone notice or found mention anywhere that J&K felt low intensity earthquake this morning at around 6:30 am. The police has realesed probable sketch of the Gaurio Lankesh killer sust=pected to be involved in her murder. This is the most disgusting pictures coming from one of the most learned states of the country. Bihar has always lead country to greatness but when we such pictures we surely want to hide our face in shame. The Bihar school asked question which kept Kashmir as a separate nation. The opposition was quick to pick up the issue and bring it to the notice of the general public and blamed it on the mismanagement of ruling party especially on the inefficiency of Nitisk Kumar, CM, Bihar. Dera Sacha Sauda chairperson Vipassana Insan reaches Panchkula police station, she will be questioned along with Honeypreet The sad news of "Amrapali" director Lekh Tandon passing away came in just now. All his fans must be saddened to hear on the demise of the great creator. Big on Hosting. Unlimited Space & Unlimited Bandwidth

International Tweets

Nuclear war may break out any moment: Says North Korea Will you agree to what the survey has to say?