Freecharge, Axis Bank-owned startup, names Mohit Jain as new CEO and MD
- ByStartupStory | April 18, 2023
Freecharge, an Axis Bank-owned payments startup, has appointed Mohit Jain as its new Chief Executive Officer and Managing Director. Jain, a former senior leader at Axis Bank, takes over from Siddharth Mehta, who resigned from the position in February after almost four years. Jain announced his new role on social networking site LinkedIn.
Jain worked with Axis Bank for over 16 years, most recently as the head of Bharat Enterprises and Institutional Businesses. During his tenure, he was responsible for scaling up the corporate agri/MSME business in semi-urban and rural markets, setting up new lines of business such as co-lending, expanding geographical presence, and broadening the customer segment. He was also instrumental in the digital transformation of the group.
Speaking about his appointment, Jain said, “I am excited to join Freecharge and Axis Bank. Freecharge has a tremendous opportunity to accelerate the adoption of digital payments and fintech services in India. I look forward to working with the team to take Freecharge to new heights.”
The appointment comes after Mehta and former Axis Bank executive Mohit Bedi launched a venture named Gokiwi Tech in November last year, according to the Registrar of Companies. Freecharge was acquired by Axis Bank in 2017, and the payments startup has since been focusing on expanding its customer base and launching new services.
Commenting on Jain’s appointment, an Axis Bank spokesperson said, “Mohit brings with him a wealth of experience in banking and financial services, and we are confident that his leadership and vision will take Freecharge to new heights.”
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