FreeCharge, MobiKwik in merger talks

New entity is likely to get a top-up of $200 million from a Chinese investor

After consolidation in the online market space, it seems the turn of mobile wallets. FreeCharge plans to merge itself in an all-stock deal with MobiKwik, said sources close to the companies. 

Sources say after the merger, the new entity is likely to get a top-up of $200 million (nearly Rs 1,300 crore) from a Chinese investor who is eager to make an entry into India. Also, some banks have indicated they’d be interested to invest in a merged entity. 

However, it should be noted that the talks are only at an initial stage. Interestingly Sequoia Capital is a major investor in both