Snapdeal Acquires Freecharge To Boost Mobile Transaction Business

195 has acquired Freecharge, an online mobile recharge firm for an undisclosed amount in order to boost the use of mobile transactions business in India.

Freecharge is a site for top up amounts on their mobile phone or internet connections.

Snapdeal Chief Executive Kunal Bahl said, “1 million mobile transactions would take place daily once the companies are combined. About 75 percent of all Snapdeal transactions now are through mobile users.”

With the acquisition, Snapdeal would become “the largest mobile commerce company in India,” the company said in a statement.

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