FreeCharge, an online platform for recharge, utility payments, promotions and couponing, which is already backed by US venture capital investor Sequoia Capital, said on Friday it has got a further $80 million in fresh funding from investors including Valiant Capital Management & Tybourne Capital Management.
The company, founded in 2010, enables users to recharge pre-paid and post-paid mobile phones online and get rewarded with discount shopping coupons for using its site.
FreeCharge has a user base of more than 20 million and there has been 10 million downloads of the app in the past year, co-founder Kunal Shah said.
FreeCharge's chief executive Ashok Goel said 85% of its transactions are now conducted on mobile phones.