Founded in 2010, FreeCharge claims to be strong in the mobile space with 20 million registered users. It is not a mobile wallet but a mobile recharge platform. The company recently was acquired by Snapdeal for $400. Freecharge is not a wallet service but is a mobile recharge tool. It has raised $113 million so far from investors like San Francisco-based Valiant Capital Management and Hong Kong-based Tybourne Capital Management. Its investors have decided not to exit following the transaction by Snapdeal. Though the companies will work separately, there will be a ‘cross-pollination’ of services to help FreeCharge customers buy products from Snapdeal, and vice versa.