Freecharge CEO quits amidst reports of parent Snapdeal seeing fundraising troubles

Govind Rajan, CEO of FreeCharge. Photo credit: Freecharge.

Freecharge CEO Govind Rajan has resigned within a year of taking charge at the Snapdeal subsidiary, media reports say.

Turnaround expert Jason Kothari, who joined Snapdeal in January as its chief strategy and investment officer, will oversee the business operations of FreeCharge, The Economic Times said.

See: Why is a turnaround expert joining Snapdeal?

“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,” Govind told the Mint newspaper.

Snapdeal is said to be having troubles raising fresh funds, with investor Alibaba even mulling over a merger with Paytm.

Govind’s departure is the latest in a series of top-level resignations from India’s top tech startups. At the beginning of the month, Snapdeal lost two of its senior executives. Snapdeal is the parent company of Freecharge.

Ola’s CFO Rajiv Bansal quit two days later.

Last February, Flipkart’s Mukesh Bansal, head of commerce and advertising, put in his papers. The company’s CFO resigned later that year in October.

Freecharge parent Snapdeal did not respond to an email asking for comments outside office hours.

Update Feb 22, 2017: A previous version of this article reported Mukesh leaving Flipkart in 2017. He left in 2016. The year has been updated.