Wednesday, July 24, 2024
HomeFunding Freed Secures $7.5 Mn in Series A Round Funding

[Funding Alert] Freed Secures $7.5 Mn in Series A Round Funding

FREED’s Goal is to assist those who are struggling with debt. For those in debt who want to become debt-free, we provide tailored debt relief solutions.In its Series A round headed by Sorin Investments and Multiply Ventures, with participation from Piper Serica and other institutional funds, debt relief website has received Rs 60 crore ($7.5 million).

With this most recent investment, it hopes to continue leading the way in debt reduction innovations while also quickening its rate of growth and impact.

Read also – Olive Rock Partners secures $30 million in funding

Ritesh Srivastava founded FREED in August 2020 to help people efficiently navigate their debt difficulties. The company states that it has over 25,000 customers nationwide and has enrolled over 1,200 crore in stressed retail debt on its platform.

In addition to CreditQ, Loan Settlement, Single Debt, and FREED are competitors in this market.

Read also – Israel-based Treetoscope Secures Extended Seed Funding

In July 2022, Sorin Investments, a venture capital business founded by Sanjay Nayar of KKR and Angad Banga of Caravel Group, raised $100 million from various family offices for its first fund. Its portfolio consists of Venwiz and Uniqus.

About Freed

At FREED, their mission is to help people burdened with debt. They offer tailor made debt relief solution to customers who are in debt and are looking to get debt free. Their goal is simple, to empower you to overcome your debt.

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