Snapdeal in talks with investors to raise Rs 2,000 crore for its digital services platform FreeCharge

Snapdeal in talks with investors to raise Rs 2,000 crore for its digital services platform FreeCharge

Jasper Infotech, which operates online marketplace Snapdeal, is in talks with existing and new investors to raise about $300 million (Rs 2,000 crore) for its digital services platform FreeCharge, two people aware of the development have said.

The fundraising exercise, which comes less than three months after it raised about $500 million from Alibaba, Foxconn and SoftBank, is aimed at strengthening FreeCharge and furthering Snapdeal's ability to offer a gamut of goods and services to customers, the sources said.
FreeCharge's parent Accelyst Solutions was bought by Jasper in April for $450 million in the biggest transaction involving Indian startups. SoftBank and Foxconn have started discussions with Jasper Infotech.