Avendus Capital advises Freecharge on its $80 mn fund raise from Valiant Capital, Tybourne Capital and existing investors.

Freecharge, India’s fastest growing mobile transactions platform has closed a $80 million financing led by San-Francisco based Hedge Fund, Valiant Capital Partners, Hong-Kong based Tybourne Capital Management along with existing investors Sequoia Capital, Ru-Net Ventures and Sofina.

Besides mobile recharge and utility bill payments, Freecharge offers promotions and discounts from various food joints and retailers every time a customer uses its platform for a recharge. The company was founded in 2010 by serial entrepreneur Kunal Shah and Sandeep Tandon, head of technology conglomerate Tandon Group. The company has a user base of over 20 million and has received over 10 million app downloads within the past 12 months. Mobile constitutes 85% of its overall transactions making it country’s leading mobile-first platform.

Avendus Capital was the sole financial advisor to this transaction.

This deal marks the 13th deal closure in the current fiscal year for Avendus in the Digital and Technology space. Avendus is a leading advisor in the Digital & Technology sector and has advised on 35+ deals in the past 5 years. Last year the firm has concluded 31 deals across various industries and was amongst the top two financial advisors by overall number of deals in India (as per Mergermarket for CY 2014).