Digital payments platform Freecharge has appointed former Obi Mobiles executive Karthik Rajeshwaran as director (strategy), reported TechCircle. Rajeshwaran will use his expertise to usher-in consumer centric innovations to expand revenue across new business opportunities.
“[Rajeshwaran] brings in a fresh perspective and inspired energy to tread us in new and exciting directions. I am certain that with his insights on digital consumers and evolving digital habits, we will accelerate our innovations,” commented FreeCharge CEO Govind Rajan.
Prior to his appointment at Freecharge, Rajeshwaran led global marketing and growth at Obi Worldphone, a SF-based handset maker, where he was responsible for launching smartphones and crafting brand communication plans across Vietnam, Thailand, Indonesia, Philippines and select Middle Eastern countries. An alumni of Indian Institute of Management, Lucknow, Rajeshwaran began his career at Hindustan Unilever where he worked for nearly four years before moving to Obi Mobiles.
“With more and more of our lifestyle habits taking a digital avatar, our dependency on digital payments is unprecedented. It’s an opportune time to be in the fin-tech space and an even bigger joy to be part of an iconic brand like FreeCharge,” Rajeshwaran observed.
The appointment comes following restructuring at FreeCharge which included naming Govind Rajan as CEO and Kunal Shah its chairman. Rajan was the chief operating officer while Shah was the CEO before the restructuring. In addition, FreeCharge hired former Amazon India executive Fareed Jawad as VP of Payments and Principal Product Architect and appointed former Airtel executive Anshul Kheterpal as CFO.
Founded in 2010 by Shah and Sandeep Tandon, who recently rejoined the team as member chief business officer, FreeCharge was acquired by Snapdeal in April 2015 for an undisclosed estimated to be a tidy $300-400 million. Some additional funding background: The platform was seed-funded by Sequoia Capital and Tandon Group. In September 2014 Freecharge received $33Million Series B Funding from Sequoia Capital, Sofina and Ru-Net. In February 2015, FreeCharge further raised $80Million from Hong Kong-based fund Tybourne Capital Management and SF-based fund Valiant Capital Management and existing investors.