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JustRechargeIt.com raises funding led by Ladderup Finance and other investors

Mumbai‐based JRI Technologies, which runs the JustRechargeIt.com,
has raised an undisclosed amount of investment led by Ladderup Finance Limited,
a mid‐market focused and independently owned boutique investment bank, along
with a consortium of Investors who have acquired 25 per cent stake in the
company.

Mumbai‐based JRI Technologies, which runs the JustRechargeIt.com,
has raised an undisclosed amount of investment led by Ladderup Finance Limited,
a mid‐market focused and independently owned boutique investment bank, along
with a consortium of Investors who have acquired 25 per cent stake in the
company.

JustRechargeIt.com claims to be India’s first multi‐lingual
(10 Indian languages) 24/7 recharge platform that provides recharge facilities
of all the telecom service providers, Data Card and DTH operators through the
Internet and Mobile channels. JustRechargeIt competes with websites like
RecahrgeItNow.com and PayTM.com.

Annanya Datta, Founder and CEO, of JRI Technologies Private Limited,
said, “There are around 911 million mobile phone users in India, 95 per cent of
which are prepaid subscribers. As of now, only 1 per cent of the total mobile
recharges are done online. There are nearly 40 million DTH subscribers in India
and the entire DTH industry works on the prepaid model. There is lot we need to
do, as more and more Indians are coming online for recharging their mobiles,
DTH and data cards. The funding would help our Company to buildup up our brand,
team, technology and achieve our next level of growth.”

Sunil Goyal, CEO of Ladderup Finance Limited,
said, “We encouraged JRI Technologies to take this funding because we are very
excited about the amazing momentum the company is experiencing and believe that
with this capital, the company can grow even faster.”

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