Axis Bank acquires Freecharge, appoints Sangram Singh as CEO

Private Sector bank, Axis Bank has announced that it has completed the acquisition of Freecharge. Axis Bank has completed the acquisition of Freecharge for a cash consideration of 373.27 crore. It has also announced appointment of Sangram Singh as the CEO of Freecharge Payment Technologies Private Ltd. Through this acquisition, Axis Bank will get access to about 52 million mobile wallet holders of Freecharge as well as its staff strength of about 150 to 200 professionals. Management of Axis Bank believes that this acquisition will double its customer base and will fast track its digital journey by multiple years.