Fintech Startup FREED Raises USD 7.5 Mn in Series A Led by Sorin Investments and Multiply Ventures With the most recent funding, Gurugram-based startup hopes to accelerate its growth trajectory, deepen its impact, and continue breaking new ground in the debt relief landscape.

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Ritesh Srivastava, Founder of FREED/LinkedIn

Debt relief platform FREED has raised USD 7.5 million in Series A round led by Sorin Investments and Multiply Ventures, with participation from Piper Serica and other funds.

In 20022, it raised USD 2.8 million in a pre-series A investment led by Inflection Point Ventures, with participation from Chandigarh Angels Network, Multiply Ventures, and other investors.

As per the official release, FREED aims to deploy the latest investment to accelerate its growth trajectory, deepen its impact, and continue pioneering advancements in the debt relief landscape.

Maple Capital Advisors was the sole advisor for this fundraise.

Ritesh Srivastava, Founder of FREED, said, "We are thrilled to have secured this significant investment, which not only validates the importance of our mission but also provides us with the resources to expand our reach and impact. This funding will enable us to further enhance our technology, scale our operations, and ultimately, make a meaningful difference in the lives of many."

Founded in 2020 by Ritesh Srivastava, FREED provides credit education, repayment simulations, spend analytics, and customised budgeting.

The startup claims to have enrolled over INR 1,200 crore in stressed retail debt on its platform from more than 25,000 customers across India.

Sanjay Nayar, Founder and Chairman of Sorin Investments, said, "We are excited to work with FREED to help millions of people who struggle with debt due to events outside of their control. The company's offering provides these people with a path to resolve their debts, so that they can live their lives respectfully and without any fear of harassment. We are committed to help build out this new category which sits at the intersection of robust business fundamentals and positive societal impact."

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

News and Trends

NeoSapien Secures INR 80 Lakhs on Shark Tank India 4 for AI Wearable

Founded in 2024 by Dhananjay Yadav and Aryan Yadav, NeoSapien aims to integrate AI into daily life through its wearable technology

News and Trends

PAG Acquires Majority Stake in Pharma Packaging Player Pravesha Industries

This move underscores PAG's continued focus on India's burgeoning packaging industry, following its recent investment in Manjushree Technopack.

News and Trends

Eccentric Eyes Global Expansion with USD 5 Mn Pre-Series A Funding

The round was co-led by Exfinity Venture Partners and Arkam Ventures, marking the company's first institutional funding since its inception in 2012.