Freely
Freely Payments is a U.S. fintech that builds B2B payment acceptance, automated receivables, and co-branded credit-card working-capital tools exclusively for independent foodservice distributors and their restaurant customers, distributed through major industry cooperatives.
- Company typePrivate
- Founded2023
- HeadquartersWashington, United States
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Freely does
Freely Payments Inc. is a U.S.-based B2B fintech founded in 2023 and headquartered in McLean, Virginia (Washington D.C. metro), focused exclusively on payment acceptance and working-capital tools for independent foodservice distributors and their restaurant customers. Its core platform combines a mobile application (Freely App), a payment acceptance product (Freely Accept / Freely Acceptance™), and a co-branded credit card program (Freely Pay) launched in Q4 2024. Underlying technology is a proprietary intelligent routing gateway that leverages exclusive Mastercard and Visa wholesale rates to drive merchant processing costs to near zero, paired with automated reconciliation, intelligent collections, and low-lift ERP integrations (including homegrown ERP systems).
Freely monetizes primarily through transaction-based economics: the spread between wholesale interchange and any residual fees, volume-based network incentives, interchange earned on co-branded card spend (including purchases made outside the merchant), and yield generated on customer float balances held against the 30-day interest-free working-capital product. The company operates a pure channel-partner go-to-market — there is no direct merchant sales motion — and is an approved supplier with UniPro Foodservice (450+ distributors, $119B+ annual sales volume, 800,000+ end customers), Frosty Acres Brands, and Enterprise Café. It was selected for Mastercard's Start Path SMB Program in 2024 and received a $225,000 grant from the Arlington Innovation Fund, but has not disclosed any external venture funding. Founder and CEO Ahmed Nawash leads the company, drawing on prior payments and embedded-banking roles at KeyBank, Snapsheet Transactions, and MarginEdge.
Customer segments are two-sided: mid-market independent wholesale food distributors (primary buyers of the acceptance product) and the SMB restaurants they sell to (primary users of the co-branded card and float). The company is privately held, incorporated in Virginia, and reports headcount in the 11–50 range; revenue has not been publicly disclosed.
Freely firmographics
Firmographics- Name
- Freely
- Legal name
- Freely Payments Inc.
- Website
- https://freelypayments.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Freely Payments is a U.S. fintech that builds B2B payment acceptance, automated receivables, and co-branded credit-card working-capital tools exclusively for independent foodservice distributors and their restaurant customers, distributed through major industry cooperatives.
- Ownership category
- akta.pro rank
Freely industry classification
Industry- Product category
- B2B Payment Processing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Credit Card Issuing (52221), Sales Financing (522220)
- SIC
- Miscellaneous Business Credit Institution (6159), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
- akta.pro secondary industries
- Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), A2A Bill Pay & eInvoicing (Open Banking Enabled) (FSAMAFAL), Private-Label & Store Card Schemes (FSAMAAAE)
Keywords
Where Freely is headquartered
LocationHeadquarters
- HQ city
- Washington
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Freely business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Payment Processing (Freely Acceptance™): The company earns revenue by leveraging exclusive MasterCard and Visa rates with intelligent routing to reduce processing fees to near zero. Revenue is generated from the spread between wholesale interchange rates and any fees charged, combined with volume-based incentives from card networks. The model enables merchants to accept credit cards at effectively zero cost while Freely captures value through network relationships and transaction volume.
- Cash Back Rewards Program: Freely earns revenue through cash back earned by merchants on every transaction processed. The co-branded card program creates additional revenue streams through interchange fees on all card transactions, including purchases made outside the merchant's business.
- Working Capital / Float Products: Revenue generated from the 30-day interest-free float offered to customers, as well as extended payment terms. Freely generates yield on float balances while merchants benefit from flexible payment options.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Zero Processing Cost Model |
| Other | Monthly | Freely Pay™ Co-branded Card Program |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Freely product offering
Product offeringCore offering
Freely Payments provides a B2B payment acceptance and receivables platform built specifically for foodservice distributors. Its flagship product, Freely Acceptance™, enables merchants to accept credit cards at near-zero processing cost via proprietary intelligent routing, while Freely Pay™ extends co-branded credit card programs with working-capital features (30-day interest-free float, 5% money market rates, customizable rewards) to distributors' restaurant customers. The platform also includes automated reconciliation and ERP integration.
Product overview
Freely Payments is a fintech platform offering a unified portfolio of B2B payment solutions specifically designed for the food and beverage distribution sector. The core platform consists of three integrated products: Freely App (mobile application), Freely Accept (payment acceptance with intelligent routing for near-zero processing costs), and Freely Pay (co-branded credit card program). Freely Accept serves as the primary payment acceptance solution leveraging proprietary intelligent routing, while Freely Pay extends the offering to include customer-facing credit card products with cash back rewards and working capital tools. The platform is complemented by automated reconciliation features and ERP integration capabilities, positioning it as an end-to-end receivables and payment processing solution for wholesale food distributors and restaurants.
Differentiator
Problem solved
Functional benefit
Brands
- Freely App: Mobile application for the Freely payments platform.
- Freely Accept
- Freely Pay
Products and services
- Freely Acceptance™ Freely Acceptance™ is the company's flagship credit card acceptance solution for foodservice distributors, offering near-zero processing cost through proprietary intelligent routing, exclusive MasterCard/Visa rates, and cash back rewards on every transaction processed. Designed exclusively for food vendors (wholesale distributors and foodservice operators), it eliminates traditional 2–3% processing fees, accelerates settlement, and integrates with existing payment processors so merchants do not have to switch.
- Freely Pay™ Co-branded Credit Card Program Freely Pay™ is a co-branded credit card program that extends working-capital tools to the restaurant customers of Freely's foodservice distributors. Administered and serviced by Freely on its balance sheet, it offers a 30-day interest-free float, 5% money market rates on customer balances, customizable rewards programs, and early-pay discounts, with cash back earned on all transactions including purchases made outside the merchant's business.
- Freely App The Freely App is the mobile application component of the Freely fintech platform, enabling food vendors to manage payment acceptance, receivables, and reconciliation on the go.
Quantifiable outcome
- Eliminates 2-3% processing fees that typically erode margins on every transaction
- +3 more outcomes
Companies that use Freely
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
Freely technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature5 records
Freely partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and flagship.
- Frosty Acres BrandscoreFreely Payments joined Frosty Acres Brands as a strategic supplier partner. Frosty Acres is a member-owned foodservice purchasing and marketing cooperative dedicated to empowering independent distributors since 1954. The partnership enables Frosty Acres members to reduce processing fees to near zero, boost cash flow, minimize credit risk, and offer customers seamless payment options that drive loyalty.
- Enterprise CafécoreEnterprise Café, the leading sales analytics platform for independent foodservice distributors, named Freely Payments as its preferred payments partner. This partnership delivers breakthrough payment solutions to Enterprise Café's 80+ progressive foodservice and specialty distributors across North America and the Caribbean. Freely is accessible via a new link on Enterprise Café customer pages.
- UniPro FoodserviceflagshipFreely Payments was officially approved as a new supplier for UniPro Foodservice, the nation's largest food distribution cooperative. This partnership opens doors to enhanced payment processing for hundreds of distributors serving over 800,000 customers across the U.S. UniPro represents over $119 billion in annual sales volume with 450+ member distributors operating 900+ distribution locations. Freely's solutions are now available to all UniPro members nationwide as an approved supplier.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Freely competitors and assessment
Company assessmentDirect peers
- Toast: Restaurant-focused POS and payments platform that processes card transactions and offers working capital (Toast Capital) to foodservice operators. Directly comparable as a vertical payments fintech serving the foodservice ecosystem.
- Heartland Payment Systems (Global Payments): Long-standing foodservice-specialized payment processor (now part of Global Payments) serving restaurants and distributors with card acceptance and merchant capital products. Closest direct competitor in vertical processing for food vendors.
- Clover (Fiserv): SMB payments and POS platform with strong foodservice penetration, offering card acceptance, working capital, and software integrations. Comparable as an embedded payments and merchant credit platform for small food businesses.
- SpotOn: Restaurant and SMB payments + software provider offering card processing, capital advances, and marketing tools to independent operators. Competes for the same independent restaurant and small food business customer base.
- HungerRush: Restaurant tech platform combining POS, online ordering, and payments with integrated capital/financing for foodservice operators. Directly comparable vertical payments + credit stack for restaurants.
- Stax by Fattmerchant: Subscription-based payment processor targeting SMBs with flat-fee pricing and integrated capital products. Comparable as an SMB-focused payment processor offering working capital alongside processing.
Broad incumbents
- Square (Block): Mass-market SMB payments and capital provider with broad foodservice penetration. Comparable business model (low-cost processing + Square Capital) but operates across all verticals, not specialized.
- Stripe: Dominant internet-native payment processor offering Stripe Capital and Issuing for embedded credit and card products. Comparable on intelligent routing and embedded payments, though horizontal and developer-focused.
Emerging players
- MarginEdge: Restaurant invoice and inventory management SaaS (and former employer of Freely's CEO). Adjacent rather than directly competitive, but operates in the same independent restaurant ecosystem and could expand into payments.
- Cut+Dry (Restaurant Depot / Food distribution software): B2B ordering and payments platform connecting restaurants with foodservice distributors. Comparable as an embedded payments layer for foodservice distribution, though focused more on ordering workflow than card processing economics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Freely social profiles
Digital presenceFreely compliance and trust
Trust signalCompliance3 records
Freely financial estimates
Financial estimateRevenue estimate
Valuation estimate
Freely leadership team
Management profileNumber of profiles
Profiles1 record
Freely funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Freely M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Freely
What does Freely do?
Freely Payments provides a B2B payment acceptance and receivables platform built specifically for foodservice distributors. Its flagship product, Freely Acceptance™, enables merchants to accept credit cards at near-zero processing cost via proprietary intelligent routing, while Freely Pay™ extends co-branded credit card programs with working-capital features (30-day interest-free float, 5% money market rates, customizable rewards) to distributors' restaurant customers. The platform also includes automated reconciliation and ERP integration.
Is Freely a public or private company?
Freely is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Freely founded?
Freely was founded in 2023. It employs 1 to 10 people.
Where is Freely based?
Freely is headquartered in Washington, United States, in the North America region.
How does Freely make money?
Three revenue lines are on record. Payment Processing (Freely Acceptance™) is the primary driver. The others are cash Back Rewards Program and working Capital / Float Products.
Who are Freely's main competitors?
Direct peers on record are Toast, Heartland Payment Systems (Global Payments), Clover (Fiserv), SpotOn, HungerRush and Stax by Fattmerchant. Broad incumbents are Square (Block) and Stripe. Emerging players are MarginEdge and Cut+Dry (Restaurant Depot / Food distribution software).
Does Freely have an API?
No public API is recorded for Freely.
What industry is Freely in?
Freely's product category is B2B Payment Processing. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of FSAGALAB, Embedded Payments (Pay-ins, Pay-outs, Wallets). Its NAICS code is 52232 and its SIC code is 6159.