Debt platform FREED on Thursday said it has raised Rs 60 crore in funding led by Sorin Investments for business growth.
The round witnessed investments from investors Sorin Investments and Multiply Ventures, with participation from Piper Serica and other institutional funds, FREED said in a statement.
The milestone validates FREED's pioneering approach to debt relief and reflects investors' confidence in the company's vision and potential to transform the debt and post-lending landscape in India, the company's founder Ritesh Srivastava said.
With Sorin Investments founder and Chairman Sanjay Nayyar and Multiply Ventures founder and General Partner Bhushan Patil as key partners, FREED is poised to accelerate its growth and expand its reach across the country, he added.
FREED's innovative platform utilises technology-driven solutions coupled with intent-driven support to assist individuals in navigating their debt challenges effectively.
Founded in August 2020, FREED has enrolled over 1,200 crore in stressed retail debt on its platform across 25,000 plus customers pan India.
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