Brands
FreeCharge raises $33 million Series B
MUMBAI: FreeCharge, an online platform for recharge, utility payments, promotions and couponing, has raised $33 million in Series B funding from Sequoia Capital, Sofina and RuNet.
The online portal, which is witnessing a rapid growth, is building an advertising platform that captures online and offline purchase behaviour and brand preferences of consumers, by offering incentives and coupons to users to transact on its platform.
Mobile transactions on the Freecharge app have grown 30x since the beginning of 2014, and the company has more than 10 million registered users. FreeCharge CEO Alok Goel said, “We have been able to assemble one of the best start-up teams in the country and are leading the mobile internet revolution in India. 70 per cent of our transactions come from mobile platforms and we are growing more than 400 per cent year on year.”
Sequoia Capital India Advisors MD Shailendra Singh said, “Freecharge is creating a unique new category, an advertising platform with the ‘consumption graph’ for the most valuable online consumers. We are very impressed with the team’s execution and the rapid growth and engagement of users on the platform.”
RuNet investment officer Galina Chifina added, “Freecharge is one of the most exciting companies in our Indian portfolio with a highly innovative business model that has global appeal and scalability. We are happy to participate in the new round to support the new initiatives the company has embarked upon. The team has done an awesome job to position Freecharge among the leaders of the mobile recharge/payment and data analysis market in India and we believe the new round will help the company to grow even faster.”
The company has added Gokul Rajaram, Koh Boon Hwee, Dhiraj Rajaram to its board of advisors. Apart from this, the online platform has also announced the appointment of Ninad Y Takpere as the chief business development officer. Takpere said, “I am inspired by the innovation that FreeCharge has brought to the Indian e-commerce space. I have great respect for the democratic leadership values and professionalism at FreeCharge. I am quite excited about my role and look forward to contribute and be part of the growth journey of FreeCharge.”
FreeCharge also recently acquired Preburn, in addition to Wishberg, its first acquisition.
Brands
Nestlé weighs trimming ice cream footprint and Froneri stak
Swiss giant reviews options including stake cut in €15bn JV as it eyes higher-margin focus post-Unilever split.
MUMBAI: Nestlé is melting down its ice cream ambitions or at least scooping back a few spoonfuls amid a strategic review that could see it slim its stake in blockbuster joint venture Froneri. According to a Bloomberg report published 18 February 2026, the Swiss food and beverage powerhouse is mulling a reduced presence in the global ice cream segment. Options on the table include trimming its holding in Froneri, the joint venture with private equity firm PAI Partners that houses crowd-pleasers like Häagen-Dazs, Mövenpick, and Rowntree’s or even shifting some of Nestlé’s remaining wholly owned ice cream operations into the JV.
Discussions remain fluid, with no final decisions locked in and no guarantee of any transaction materialising. One scenario has PAI Partners boosting its ownership if Nestlé pulls back, while another could see the Swiss group offloading a portion of its stake to an existing investor like the Abu Dhabi Investment Authority (ADIA).
Froneri itself got a hefty valuation boost in October (likely 2025), when Goldman Sachs and ADIA poured in fresh capital, pegging the business at around €15 billion (about $17.69 billion). The move turned heads in the sector, especially as Unilever spun off its ice cream arm last year into the now-independent Magnum Ice Cream Company freeing both giants to chase sunnier, higher-margin pastures.
Nestlé’s rethink, reportedly overseen by new CEO Philipp Navratil as he sifts through the company’s vast portfolio, mirrors broader industry trends: consumer giants are sharpening focus on core strengths amid shifting tastes and profitability pressures. Ice cream might be delicious, but it’s not always the creamiest part of the balance sheet.
Whether this ends in a stake sale, JV expansion, or just more pondering, the frozen dessert world could soon see another ownership shake-up. For now, Nestlé isn’t screaming “last orders” but it’s definitely checking the freezer temperature.
