The Axis Bank is in the race to buy Digital Payment Platform FreeCharge, which is the third largest bank in the private sector in the country. The e-commerce marketplace Snapdeal has the ownership right on the freeware.The Freecharge has been looking for a buyer for several months. Sources said that the Axis bank is currently de-division of the freeware. Sources said Snapdeal can get $ 25 million for the franchise. Snapdeal have a huge cash crunch. Although the Economic Times has not been able to confirm it for free.Axis Bank and Snapdeal did not respond to queries related to email about this. In May it was reported that two domesticated banks and some private equity companies have shown interest in buying the Bangalore based franchise. Snapdeal CEO Kunal Behl described the Freecharge as the crown of his company.Snapdeal’s parent company Jasper had bought the Freecharge in 2015. This deal was made in $ 405 million. It was described as the biggest deal till then in the Indian startup world. Last month, the market leader and opposition partner of the Segment also bid $ 1-1.5 million for the franchise and for this he signed a non-exclusive transaction. Two sources aware of this matter have given this information.
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