Freecharge appoints Mohit Jain as Managing Director
Freecharge Payment Technologies Pvt. Ltd. has appointed Mohit Jain as their new Managing Director, replacing Siddharth Mehta who served for almost four years. Jain’s appointment took effect this month. With over 17 years of experience working for Axis Bank, where he served as Executive Vice President, Jain brings a wealth of expertise to his new role. During his tenure, he successfully led the Bharat Enterprises Initiatives and Institutional Business, managing the Corporate Agri and MSME Businesses in semi-urban and rural markets.
Jain introduced new business lines like Co-Lending and Nano Loans and played a crucial role in managing the commercial banking segments for Axis Bank, serving customers with a turnover of up to Rs 250 crores. He successfully raised a fund of 1.8 billion from Bain and other investors. Additionally, Jain specialised in transaction structuring, debt underwriting for large corporations, and M&A and strategic investments while overseeing the financial advisory group at Axis Bank. He holds a PGPM from Management Development Institute (MDI) and is a CA from the Institutes of Chartered Accountants of India.
Jain expressed his excitement about joining Freecharge and aims to build further capabilities and products for aspiring Indians as the company continues its transformation into one of India’s leading lending and payments fintech companies under the Axis Bank umbrella. His previous experience in strategic investment and M&A expertise is expected to help Freecharge continue its growth trajectory.