Founded by Kunal Shah and Sandeep Tandon, FreeCharge started in 2010 as a website for customers to recharge their cell phones. In April 2015, Snapdeal acquired FreeCharge for $400 million, providing it with the distribution network to penetrate rural pockets, although the two companies continue to operate separately. In September 2015, the companies announced the introduction of the semi-closed FreeCharge wallet. Since the company does not have a licence to run open-loop mobile wallet services — although it has in-principle RBI approval to run its ow
Post its acquisition by Snapdeal, the e-wallet provider is targeting a combined wallet base of 35 million account holders
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