FreeCharge CEO Govind Rajan quits

1 min read 22 Feb 2017, 12:30 AM IST Join us

Arushi Chopra

Govind Rajan's exit comes as FreeCharge parent Snapdeal is struggling to attract investors

FreeCharge, which provides digital payments services, was acquired by Snapdeal for $450 million in April 2015 and appointed Govind Rajan as the chief executive in May 2016.

New Delhi: FreeCharge chief executive Govind Rajan has resigned from the company within nine months of his appointment as the payments subsidiary of online marketplace Snapdeal has failed to raise fresh funds. The company confirmed the news late Tuesday night.

Snapdeal, run by Jasper Infotech Pvt Ltd, has been trying to independently raise funds for FreeCharge but the company has struggled to attract investors in the past six to 10 months.

“It has been a unique privilege to helm FreeCharge in these exciting times of rapid growth and user focused innovation. I am confident that FreeCharge will achieve still greater heights under its incredibly talented team and I look forward to facilitating the transition over the next few weeks," said Rajan in an email response.

“Going forward, Jason Kothari will oversee the business operations of FreeCharge as part of his overall responsibilities of portfolio management as the chief strategy and investment officer of Snapdeal," the company said.

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