Freecharge CEO quits amidst reports of Snapdeal seeing fundraising troubles

Govind Rajan has resigned within a year of taking charge at the Snapdeal subsidiary: Tech in Asia

Freecharge CEO Govind Rajan has resigned within a year of taking charge at the Snapdeal subsidiary, media reports say.

Turnaround expert Jason Kothari, who joined Snapdeal in January as its chief strategy and investment officer, will oversee the business operations of FreeCharge, The Economic Times said.

“It has been a unique privilege to helm FreeCharge in these exciting times of rapid growth and user focused innovation. I am confident that FreeCharge will achieve still greater heights under its incredibly talented team and I look forward to facilitating the transition over the next few weeks,” Govind told the Mint newspaper.

Snapdeal is said to be having troubles raising fresh funds, with investor Alibaba even mulling over a merger with Paytm.

Govind’s departure is the latest in a series of top-level resignations from India’s top tech startups. At the beginning of the month, Snapdeal lost two of its senior executives. Snapdeal is the parent company of Freecharge.

Ola’s CFO Rajiv Bansal quit two days later. The next day, Flipkart’s Mukesh Bansal, head of commerce and advertising, put in his papers. The company’s CFO had resigned in October last year.

Freecharge parent Snapdeal did not respond to an email asking for comments outside office hours.

This is an excerpt from an article published on TechInAsia. You can read the full story here