Mobile wallet FreeCharge is reportedly planning to merge itself in an all-stock deal with MobiKwik, with the new merged entity likely to get an investment of $200 million from a Chinese investor who wants to invest in Indian businesses. Also, some banks have shown their interest to invest in that merged entity, as reported on a national news portal.
Important Statistics: -
|Merchants||Approx. 1 million||Approx. 1.4 million|
|Customers||50-75 million||50 million|
|Founders||Kunal Shah & Sandeep Tandon||Bipin Preet Singh & Upasana Taku|
|Investors||Sequoia Capital, Tandon Group, Ru-Net, Tybourne Capital Management||Sequoia Capital, American Express, Tree Line Asia, MediaTek, Cisco Investments|
If the alleged merger talks earn positive results, then MobiKwik and FreeCharge would be worth around $300 million each, and a merged entity could be valued at anything between $700 million to $1 billion, said a market analyst.
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