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Sequoia Adds Freecharge.in To Its Portfolio With $20 Million Funding

Freecharge.in an E-recharge portal for mobile phones and DTH (Direct to home) services has declared that it has raised Rs.20 crores from Sequoia Capital on January 25th. Sequoia Capital is a California based firm that provides venture capital funding for start-up companies in India.

freecharge logo

It has invested in more than fifty companies in India, during the past decade. The portal stated that these funds will be used to add new products and merchants who can help Freecharge to target and advertise to, the services and schemes to the consumers.

When asked about company’s interest in Freecharge, the Managing Director of Sequoia Capital, Mr Shailendra Singh told that many e-commerce merchants who offer coupons on the portal have seen their sales increase by 50-100% due to Freecharge alone.

Using Freecharge.in provides services where consumers can recharge their phones, pay their DTH bills online and discounts of equal value will also be offered for a merchant of their choice.

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