Leadership Update: Sangram Singh is no longer the CEO of FreeCharge. He served as CEO from October 2017 to 2019, overseeing the platform’s integration into Axis Bank’s digital ecosystem. Sumit Bhatnagar currently leads FreeCharge as CEO (appointed December 2023).
After leaving FreeCharge, Singh returned to Axis Bank as President of the Commercial Banking Group before being appointed CEO of Indifi Technologies in December 2023, where he leads the digital lending platform today.
Sangram Singh served as the Chief Executive Officer of FreeCharge, the digital payments and financial services platform owned by Axis Bank. He was appointed CEO in October 2017 after Axis Bank completed its acquisition of FreeCharge from Snapdeal for approximately Rs 385 crore ($60 million). A veteran of the banking and payments industry with over 23 years of experience, Singh brought deep expertise in credit cards, merchant acquiring, consumer finance, and digital payments from his prior roles at Axis Bank, Citibank, and GE Capital India. Under his leadership, FreeCharge expanded its digital payments footprint and integrated with the broader Axis Bank ecosystem, including partnerships with PhonePe to help users link their accounts across platforms.
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Competitors
FreeCharge operates in India’s intensely competitive digital payments and fintech ecosystem. The platform competes with both homegrown startups and global technology giants for market share in mobile recharges, bill payments, UPI transactions, and digital lending. Key competitors include:
- Paytm (One97 Communications) — India’s largest digital payments ecosystem with wallet, UPI, banking, lending, and insurance services; founded by Vijay Shekhar Sharma in 2010
- PhonePe — Walmart-backed UPI payments leader commanding over 48% of India’s UPI transaction volume; founded 2015 by Sameer Nigam
- Google Pay (GPay) — Google’s UPI-based payments app with deep Android integration; one of the top three UPI apps by transaction volume in India
- Amazon Pay — Amazon’s digital payments arm in India offering UPI, bill payments, and cashback rewards tied to the Amazon shopping ecosystem
- MobiKwik — Digital wallet and financial services platform founded in 2009 by Bipin Preet Singh; offers wallet, UPI, insurance, and credit products
- CRED — Fintech platform by former FreeCharge founder Kunal Shah focused on credit card bill payments, rewards, and premium financial products
- BharatPe — Merchant-focused UPI payments platform offering QR-code-based payments, small business lending, and POS devices
Quick Facts — Sangram Singh
| Key Information | |
|---|---|
| Full Name | Sangram Singh |
| Position | Former CEO, FreeCharge (Oct 2017 – 2019) |
| Current Role | CEO, Indifi Technologies (Dec 2023 – present) |
| Company | FreeCharge Payment Technologies Pvt Ltd (Axis Bank subsidiary) |
| Age | ~51 (estimated, born c. 1975) |
| Education | B.E. Mechanical Engineering, MNIT Jaipur; PGDM, IIM Calcutta (1997–1999) |
| Nationality | Indian |
| Experience | 23+ years in banking, payments, and fintech |
| Headquarters | Mumbai, Maharashtra, India |
Net Worth & Salary
Sangram Singh’s exact net worth and salary during his tenure as FreeCharge CEO have not been publicly disclosed. As the CEO of a wholly-owned subsidiary of Axis Bank (a publicly listed company on NSE & BSE), his compensation would have been governed by Axis Bank’s executive remuneration policies. Senior executives at Axis Bank’s subsidiary operations typically earn between Rs 2–5 crore annually ($250,000–$600,000 USD), inclusive of fixed pay, bonuses, and stock-based incentives.
Singh’s net worth is estimated to be in the range of $2–5 million (Rs 16–40 crore), factoring in his 23+ year career spanning GE Capital India, Citibank, Axis Bank, and FreeCharge. As President of Axis Bank’s Commercial Banking Group and later CEO of Indifi Technologies, he has held leadership roles at organizations managing billions in assets.
| Compensation Detail | Estimate |
|---|---|
| Salary as FreeCharge CEO | Rs 2–5 crore per annum (estimated) |
| Estimated Net Worth | $2–5 million (Rs 16–40 crore) |
| Compensation Type | Fixed salary + performance bonus + Axis Bank RSUs |
| Primary Wealth Source | Executive compensation from banking & fintech career |
Key insight: Singh’s compensation as FreeCharge CEO was part of Axis Bank’s consolidated executive payroll. Unlike startup founders, his wealth is derived from salaried executive roles rather than equity stakes. His current role as CEO of Indifi Technologies — a venture-backed lending startup — may include equity participation.
FreeCharge — Company Net Worth & Financials
FreeCharge Payment Technologies Pvt Ltd is a wholly-owned subsidiary of Axis Bank, India’s third-largest private sector bank. Axis Bank acquired FreeCharge from Snapdeal in July 2017 for approximately Rs 385 crore (~$60 million) — a steep markdown from the $400 million that Snapdeal had paid for FreeCharge just two years earlier. Since the acquisition, FreeCharge’s scale has grown 12.5x under Axis Bank’s ownership.
| Financial Metric | FY 2024 | FY 2025 | Change |
|---|---|---|---|
| Revenue from Operations | Rs 454 crore | Rs 297 crore | -35% |
| Net Profit / (Loss) | Rs 79 crore (profit) | Rs (42) crore (loss) | Loss |
| TSP Fee Revenue | Rs 173 crore | Rs 145.5 crore | -16% |
| Commission Fees | Rs 40 crore | Rs 111 crore | +178% |
| Business Support Fee | Rs 163 crore | Rs 6 crore | -96% |
| Axis Bank (Parent) | Value |
|---|---|
| Market Cap | Rs 4.25 lakh crore (~$50 billion USD) as of Feb 2026 |
| Stock Price (NSE) | Rs 1,356 (Feb 2026) |
| Revenue (Q3 FY26) | Rs 40,898 crore |
| Net Profit (Q3 FY26) | Rs 7,011 crore |
| FreeCharge Acquisition Price (2017) | Rs 385 crore (~$60 million) |
| Original Snapdeal Price (2015) | ~$400 million |
Key insight: FreeCharge’s revenue dropped 35% in FY25, slipping from Rs 79 crore profit to a Rs 42 crore loss. The sharpest decline came from business support fees paid by Axis Bank, which fell 96%. However, commission-based income surged 178%, signaling a shift in FreeCharge’s revenue model under Axis Bank’s digital strategy.
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CEO Email & Contact Information
Sangram Singh can be reached through his LinkedIn profile. As a former CEO of FreeCharge, direct company contact channels now route to the current leadership. Below are Singh’s personal and FreeCharge’s general contact details:
| Channel | Details |
|---|---|
| LinkedIn (Personal) | linkedin.com/in/sangramsingh |
| FreeCharge Website | freecharge.in |
| FreeCharge Support Email | [email protected] |
| FreeCharge Office Phone | +91-22-4036-3031 / +91-22-4077-0600 |
| Head Office | Vaibhav Chambers, 2nd Floor, Unit 2A, Bandra Kurla Complex, Bandra East, Mumbai 400051 |
| Registered Office | 11th Floor, Tower C, DLF Cyber Greens, DLF Phase 3, Gurugram, Haryana 122022 |
| Current Company (Indifi) | indifi.com |
Career & Education
Sangram Singh’s career spans over two decades across banking, payments, and fintech. He began at GE Capital India (GESBI) in 2000 as a Six Sigma Black Belt, rising to Sr. Manager of Card Marketing over four years. He then joined Citibank in 2005, spending eight years across progressively senior roles in credit cards, emerging payments, prepaid cards, and business payment solutions.
In 2014, Singh moved to Axis Bank as EVP & Head of Cards and Payments Business, later becoming SVP & Head of Cards & Merchant Acquiring Business. When Axis Bank acquired FreeCharge in 2017, Singh was appointed CEO to lead its transformation into a full-service digital financial platform. After departing FreeCharge in 2019, he briefly served as President of Indifi Technologies before returning to Axis Bank as President of the Commercial Banking Group. In December 2023, he was appointed CEO of Indifi Technologies for the second time, tasked with scaling the company’s digital lending platform.
Career Timeline
| Period | Role | Organization |
|---|---|---|
| 2000–2004 | Black Belt Six Sigma → Sr. Manager, Card Marketing | GE Capital India (GESBI) |
| 2005–2013 | Multiple senior roles — Credit Cards, Emerging Payments, Prepaid Cards, Business Payment Solutions | Citibank India |
| 2014–2017 | EVP & Head of Cards and Payments → SVP & Head of Cards & Merchant Acquiring | Axis Bank |
| Oct 2017–2019 | Chief Executive Officer (CEO) | FreeCharge (Axis Bank subsidiary) |
| 2019–2020 | President | Indifi Technologies |
| 2020–2023 | President, Commercial Banking Group | Axis Bank |
| Dec 2023–Present | Chief Executive Officer (CEO) | Indifi Technologies |
Education
| Institution | Degree / Program | Years |
|---|---|---|
| Malaviya National Institute of Technology (MNIT), Jaipur | B.E. in Mechanical Engineering | c. 1993–1997 |
| Indian Institute of Management (IIM), Calcutta | PGDM (34th Batch) | 1997–1999 |
Wiki — Age, Family, & More
Sangram Singh is approximately 51 years old (born c. 1975). He is an alumnus of IIM Calcutta’s 34th batch (1997–1999) — one of India’s most prestigious business school cohorts. Prior to his MBA, he completed his engineering degree from Malaviya National Institute of Technology (MNIT), Jaipur, one of India’s premier NITs.
Singh is recognized as an expert in consumer finance, data analytics, credit cards, Six Sigma, product management, and digital payments. Over his career, he has led teams across some of India’s most prominent financial institutions — GE Capital, Citibank, and Axis Bank — before taking the helm at FreeCharge during a critical transition period following its acquisition by Axis Bank.
Personal details about Singh’s family life remain private. He is known for maintaining a low public profile outside his professional engagements. He is based in Mumbai / Gurugram, India.
Notable Achievements
- Led FreeCharge’s integration into Axis Bank’s digital ecosystem after the 2017 acquisition
- Oversaw FreeCharge’s partnership with PhonePe for cross-platform account linking
- Built and scaled Axis Bank’s cards and merchant acquiring business from 2014 to 2017
- 23+ years of leadership experience across payments, banking, and fintech
- IIM Calcutta alumnus (34th Batch) and MNIT Jaipur engineering graduate
- Appointed CEO of Indifi Technologies twice (2019 as President, 2023 as CEO)
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About FreeCharge
FreeCharge is a digital payments and financial services platform founded in August 2010 by Kunal Shah and Sandeep Tandon. Originally a mobile recharge platform that offered coupons with every recharge, FreeCharge quickly became one of India’s most popular digital wallets. The company was acquired by Snapdeal in April 2015 for approximately $400 million — the second-largest acquisition in India’s e-commerce sector at the time. When Snapdeal faced financial difficulties, Axis Bank acquired FreeCharge in July 2017 for approximately $60 million, a steep discount from the original price.
Under Axis Bank’s ownership, FreeCharge has evolved from a simple recharge app into a full-service digital finance platform offering UPI payments, bill payments, mutual fund investments, insurance, and personal loans. The platform leverages Axis Bank’s banking infrastructure while serving as a customer acquisition channel for the bank’s broader product suite.
| Company Detail | Value |
|---|---|
| Company Name | FreeCharge Payment Technologies Pvt Ltd |
| Founded | August 2010 |
| Founders | Kunal Shah & Sandeep Tandon |
| Parent Company | Axis Bank Ltd (wholly-owned subsidiary) |
| Current CEO | Sumit Bhatnagar (since Dec 2023) |
| Headquarters | Mumbai, Maharashtra / Gurugram, Haryana |
| Revenue (FY25) | Rs 297 crore |
| Key Services | UPI payments, bill payments, mobile recharge, mutual funds, insurance, personal loans |
| Snapdeal Acquisition (2015) | ~$400 million |
| Axis Bank Acquisition (2017) | ~$60 million (Rs 385 crore) |
| Website | freecharge.in |
FAQ
Who is Sangram Singh, the former CEO of FreeCharge?
Sangram Singh is a banking and fintech veteran who served as CEO of FreeCharge from October 2017 to 2019. He was appointed by Axis Bank after the bank completed its acquisition of FreeCharge from Snapdeal. Singh has over 23 years of experience in payments, credit cards, and consumer finance, with prior roles at Axis Bank, Citibank, and GE Capital India. He currently serves as CEO of Indifi Technologies.
What is Sangram Singh’s net worth?
Sangram Singh’s net worth is estimated to be between $2 million and $5 million (Rs 16–40 crore), based on his long career in senior executive positions at major financial institutions. His exact compensation has not been publicly disclosed as FreeCharge is a private subsidiary of Axis Bank.
What is Sangram Singh’s educational background?
Sangram Singh holds a B.E. in Mechanical Engineering from Malaviya National Institute of Technology (MNIT), Jaipur, and a PGDM from the Indian Institute of Management (IIM), Calcutta. He was part of IIM Calcutta’s 34th batch (1997–1999).
Why did Sangram Singh leave FreeCharge?
Singh left FreeCharge in 2019 after overseeing the platform’s integration into Axis Bank’s digital ecosystem. He briefly joined Indifi Technologies as President before returning to Axis Bank as President of the Commercial Banking Group. In December 2023, he was appointed CEO of Indifi Technologies for a second stint.
Who is the current CEO of FreeCharge?
Sumit Bhatnagar is the current CEO of FreeCharge, having been appointed in December 2023. Bhatnagar previously served as Senior Director of Program Management at Snapdeal and AVP of Engineering at Guavus Inc.
How can I contact FreeCharge?
FreeCharge can be reached via email at [email protected], by phone at +91-22-4036-3031, or through their website at freecharge.in. Their head office is located at Vaibhav Chambers, Bandra Kurla Complex, Bandra East, Mumbai 400051. Their registered office is at 11th Floor, Tower C, DLF Cyber Greens, DLF Phase 3, Gurugram, Haryana 122022.
Article last updated:January 2026March 2, 2026
All information compiled from publicly available sources including corporate filings, annual reports, news articles, and verified industry reports. Net worth and salary figures are estimates and may vary by source. FreeCharge is a wholly-owned subsidiary of Axis Bank Ltd.