Freecharge Founder Looking To Raise $30M For New Startup

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Kunal Shah

Freecharge founder Kunal Shah has left the world guessing a few months ago when he announced that after his various successful stints with a number of companies, he will start another startup soon. Now, it seems that the news is materializing soon as there has been a buzz going around that Shah is looking to raise nearly $30M in Series A funding from various investors.

As per the report, the people who are aware of the ongoing buzz about the same, Kunal Shah will raise money from VC firms like Sequoia Capital, Russian funding company Ru-Net, Ribbit Capital which backs the firms from fintech sector and a few other investors for his new venture.

Notably, Sequoia and Ru-Net had invested in Kunal Shah’s most successful ventures, the coupon-based mobile recharge company Freecharge. Kunal’s journey into the startup world started when he launched PaisaBack in 2010 and then quickly moved to Freecharge. Shah sold the company in 2015 to e-commerce company Snapdeal who later sold the company to private sector bank, Axis Bank. Interestingly, Shah remains as the board member of the company and is still running the firm at the top-level.

Kunal also has invested in a number of startups as an angel investor. His portfolio includes companies such as Innov8, Spinny, Zepo, Unacademy, Bharat Bazaar and few others.

When Kunal had first talked about the same, he had said that he is looking to start something in the healthcare of education sector. Shah known for his witty remarks and weird ideas must be thinking something interesting and it will be worth waiting for the time when he announces the details of his new startup.

 

Image Courtesy: inshorts

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