Founded in 2020 by Ritesh Srivastava, FREED has counselled over 20 lakh customers and overseen over ₹3,200 crore in debt under management.Debt relief platform FREED has raised ₹60 crore in a Series A2 funding round led by Aavishkaar Capital, with participation from existing investors Sorin Investments, Piper Serica and Sattva Ventures.
The fresh capital will be used to scale operations, expand geographic reach, strengthen product and underwriting capabilities, and deepen institutional partnerships.
“This investment strengthens our ability to scale responsible debt relief solutions at a time when household indebtedness is rising sharply across the country. We remain committed to creating transparent, tech-led pathways that give consumers a real chance at financial rehabilitation,” said Ritesh Srivastava, founder and CEO of FREED
The Gurugram-headquartered firm operates a tech-led, borrower-first model built on behavioural insights, data intelligence and cash flow-based evaluation.
“Our investment reflects our confidence in FREED’s ability to scale a responsible, customer-centric model that restores dignity, reduces financial stress, and enables people to rebuild their financial futures,” said Shashvat Rai, partner at Aavishkaar Capital.
Founded in 2020, FREED has counselled over 20 lakh customers and overseen over ₹3,200 crore in debt under management.
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