Debt relief platform FREED has successfully raised ₹60 crore (approximately $6.5 million) in funding, with Aavishkaar Capital leading the investment round. Existing investors Sorin Investments, Piper Serica, and Sattva Ventures also participated in the funding.
This latest funding round comes after a two-year gap since FREED’s Series A funding of ₹60 crore. The company had previously raised $2.8 million in a pre-Series A round in May 2022.
Established in 2020, FREED leverages technology to provide financial counseling, negotiated settlements, and structured repayment plans through trustee-managed special purpose accounts. It caters to stressed but repayment-capable borrowers by facilitating structured consolidation loans via regulated lending partners.
FREED has counseled over 20 lakh customers, managed more than 1.2 lakh active accounts, and has a portfolio of over ₹3,200 crore in debt under management. The company aims to enroll nearly $1 billion in stressed debt over the next 18 months.
The funding will enable FREED to scale its operations, explore new geographies, enhance underwriting and product capabilities, and forge stronger institutional partnerships. Despite facing competition from players like Loan Settlement, Single Debt, and CreditQ, FREED’s tech-driven approach and steady growth trajectory position it as a key player in the debt relief segment.
Source: Entrackr : Latest Posts