Amid job cuts, Freecharge CEO quits as Snapdeal struggles with funding

Snapdeal has been struggling to raise fresh funds to sustain the business in the long run

Govind Rajan, chief executive of payments Wallet Freecharge has quit the company as its parent Snapdeal is struggling to shed the business within two years of its acquisition, at a time when India’s digital payments ecosystem is growing.

“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,” said Rajan.

Snapdeal, which acquired Freecharge for around $400 million in cash and stock