FREED, India’s pioneering debt relief platform, has announced that it has raised INR 60 crore through a Series A2 funding round. This infusion of capital was led by Aavishkaar Capital, alongside existing investors Sorin Investments, Piper Serica, and Sattva Ventures.
Founded in 2020, FREED has provided debt counselling to over 20 lakh customers, managing more than 120,000 active accounts, and overseeing INR 3,200 crore in debt. The latest funding will be utilized to scale operations, expand its geographical footprint, enhance product and underwriting capabilities, and fortify institutional partnerships.
With consumer credit penetration on the rise, founders like Ritesh Srivastava emphasize FREED’s commitment to innovative debt…