FREED
FREED is an India-based technology-driven debt relief platform that negotiates loan settlements, consolidates EMIs, monitors credit scores, and protects borrowers from collection harassment across a 120,000+ active-account customer base.
- Company typePrivate
- Founded2020
- HeadquartersGurugram, India
- Headcount101–250
- GTM typeB2C
- OfferingServices
What FREED does
FREED (Freed India Private Limited) is an India-based, technology-driven debt relief platform founded in 2020 by Ritesh Srivastava and headquartered in Gurugram. The company targets Indian consumers burdened by unsecured debt — primarily credit cards, personal loans, and BNPL obligations — and offers three core programs: a Debt Resolution Program that negotiates one-time settlements (OTS) with banks, a Debt Consolidation Program that combines multiple EMIs into a single lower-interest loan, and a Credit Score Improvement App that pulls data from CIBIL, Experian, Equifax, and CRIF High Mark for monitoring and score simulation. A fourth module, FREED Shield, added in 2024, addresses debt collection harassment through Gmail OAuth-enabled escalation emails to financial institutions.
The underlying platform integrates directly with all four major Indian credit bureaus, manages funds in a Special Purpose Account during settlement, and tracks NOCs and CIBIL updates through resolution. Distribution is primarily direct-to-consumer through a mobile app (iOS and Android) and the freed.care website, supplemented by phone-based debt counselling, an SEO/content-marketing engine around financial wellness, a "We the FREED" testimonials section, and a 2024 partner program (fpp.freed.care) that adds a B2B referral channel. FREED also partners with Trillionloans Fintech for debt consolidation loan facilitation.
Revenue is generated through a mix of fees: a refundable Evaluation Fee at onboarding, a 10% Platform Fee on amounts above the monthly Settlement Payment Amount for expedited settlement, a Service Fee on settlement offers received, and optional monthly subscription fees for the consolidation and credit-monitoring products. The company reports ₹3,200+ Crore of debt under management across 120,000+ active accounts, 20,000+ accounts settled, and 2 million+ customers counselled, supported by 101-250 employees across Gurugram, Noida, and Bengaluru offices. FREED has raised approximately $16.6 million in cumulative disclosed funding, most recently a ₹60 Crore (~$6.6M) Series A2 in February 2026 led by Aavishkaar Capital.
FREED firmographics
Firmographics- Name
- FREED
- Legal name
- Freed India Private Limited
- Website
- https://freed.care
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- FREED is an India-based technology-driven debt relief platform that negotiates loan settlements, consolidates EMIs, monitors credit scores, and protects borrowers from collection harassment across a 120,000+ active-account customer base.
- Ownership category
- akta.pro rank
FREED industry classification
Industry- Product category
- Consumer Debt Relief Services
- NAICS
- Sales Financing (52222)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK)
Keywords
Where FREED is headquartered
LocationHeadquarters
- HQ city
- Gurugram
- HQ country
- India
- HQ region
- Asia
Offices4 records
Markets served
FREED business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Evaluation Fee: One-time fee charged for application processing and personalized debt assessment
- Platform Fee: 10% platform fee applied to amounts higher than the monthly Settlement Payment Amount (SPA) for customers who want to fast-track their Loan Settlement Program or reduce program duration by paying a lump sum
- Service Fee on Settlement: Fee charged upon receipt of a settlement offer from creditors, deducted from customer's savings in Trust Account per agreement terms
- Monthly Subscription Fee: Optional monthly subscription fee for ongoing program access and support services
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Loan Settlement Program (OTS) - One-time settlement with professional negotiation support |
| Subscription | Monthly | Debt Consolidation Program - EMI reduction through loan restructuring |
| Freemium | Monthly | Credit Score Improvement App - Credit monitoring and insights |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
FREED product offering
Product offeringCore offering
FREED is a technology-driven consumer debt relief platform that helps Indian borrowers settle delinquent unsecured loans (credit cards, personal loans, BNPL) for less than the full outstanding amount, consolidate multiple high-interest EMIs into a single lower-EMI loan, monitor and improve credit scores via credit bureau integrations, and protect users from recovery harassment. Services are delivered through a mobile app, web portal, phone-based counselling, and a partner referral channel.
Product overview
FREED is a unified debt relief platform offering multiple interconnected services. The core platform provides four main products: Credit Score Improvement App (for monitoring credit bureau scores from CIBIL, Experian, Equifax, and Crif Highmark), Debt Resolution Program (loan settlement services negotiating reduced payoffs with lenders), Debt Consolidation Program (combining multiple loans into a single EMI), and FREED Shield (protection against collection harassment with Gmail-based escalation tools). The platform operates primarily through a mobile app and web portal, providing end-to-end debt management from assessment through settlement and credit score recovery.
Differentiator
Problem solved
Functional benefit
Products and services
- Debt Resolution Program A loan settlement service where FREED negotiates with banks and financial institutions on behalf of borrowers to resolve delinquent unsecured accounts (credit cards, personal loans, BNPL) for less than the full outstanding amount, typically achieving 30-60% waivers, with structured settlement fund management via a Special Purpose Account.
- Debt Consolidation Program A debt consolidation service that combines multiple EMIs from various unsecured loans (personal loans, credit cards, BNPL) into a single lower-interest loan, reducing monthly payment burden for over-leveraged borrowers. Delivered via partner Trillionloans Fintech Private Limited.
- Credit Score Improvement App A credit monitoring application that enables users to view, monitor, and analyse their credit information including bureau scores and credit reports obtained from authorized credit information companies (CIBIL, Experian, Equifax, CRIF High Mark), with score simulator and improvement tools.
- FREED Mobile App iOS and Android mobile application providing access to credit score monitoring, debt management tools, loan settlement tracking, and direct communication with FREED counsellors. Available on Apple App Store and Google Play Store.
- FREED Shield A protection service against debt collection harassment that enables users to report recovery-related grievances to financial institutions and escalate to the RBI Banking Ombudsman when needed. Uses Google OAuth 2.0 to send escalation emails on behalf of users via authorized Gmail account access.
Quantifiable outcome
- Debt settlement savings of 10%-30% on monthly EMIs or up to 50% on total outstanding loan load
- +2 more outcomes
Companies that use FREED
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles3 records
FREED technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature4 records
FREED partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Trillionloans Fintech Private LimitedminorPartner for debt consolidation loan facilitation. FREED shares customer personal information with Trillionloans for onboarding process on the FREED Platform and assessing creditworthiness during debt consolidation program.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
FREED competitors and assessment
Company assessmentBroad incumbents
- BankBazaar: Indian online financial products marketplace with comparison tools across loans and credit cards. Comparable D2C consumer-credit acquisition model, though focused on origination rather than resolution.
- Paisabazaar: Largest Indian financial product marketplace for credit cards and personal loans. Comparable as a D2C consumer-credit funnel, though broader and lending-side rather than settlement-focused.
Direct peers
- CreditMantri: Indian consumer credit management platform offering credit score tracking, loan matching, and debt advisory tools. Closely comparable to FREED's credit-monitoring-plus-personalized-advice proposition for distressed retail borrowers.
- IndiaLends: Indian credit marketplace and personal loan distributor that helps consumers consolidate and refinance unsecured debt. Highly comparable to FREED's Debt Consolidation Program and unsecured-borrower target segment.
- Freedom Debt Relief: Largest US-based debt settlement company negotiating reduced balances for distressed consumers. Closest global functional analogue to FREED's Debt Resolution Program in terms of service model and fee mechanics.
- National Debt Relief: US debt settlement firm that negotiates with creditors on behalf of consumers. Comparable take-rate/transaction-fee model and borrower distress profile to FREED's OTS service.
- ClearScore: Credit-scoring and personal finance platform (UK/global) offering free bureau data and lending matches. Comparable to FREED's credit-monitoring app and freemium acquisition funnel.
- Accredited Debt Relief: US debt settlement company working with unsecured creditors to reduce balances. Functionally analogous to FREED's settlement negotiation model and fee structure.
Emerging players
- Money Mantra: India-based financial services platform offering debt management and loan advisory. Overlaps with FREED's counseling and consolidation positioning for over-leveraged Indian consumers.
- MoneyView: Indian personal finance app providing credit score, loan comparison, and personal loans. Adjacent comparator given overlap in credit-monitoring plus personal loan distribution for retail borrowers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
FREED social profiles
Digital presenceFREED financial estimates
Financial estimateRevenue estimate
Valuation estimate
FREED leadership team
Management profileNumber of profiles
Profiles3 records
FREED funding detail
Funding detailFunding overview
Funding rounds3 records
Investors11 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FREED 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 FREED
What does FREED do?
FREED is a technology-driven consumer debt relief platform that helps Indian borrowers settle delinquent unsecured loans (credit cards, personal loans, BNPL) for less than the full outstanding amount, consolidate multiple high-interest EMIs into a single lower-EMI loan, monitor and improve credit scores via credit bureau integrations, and protect users from recovery harassment. Services are delivered through a mobile app, web portal, phone-based counselling, and a partner referral channel.
Is FREED a public or private company?
FREED is a private company. It is classified as venture growth investor backed and is currently operating.
When was FREED founded?
FREED was founded in 2020. It employs 101 to 250 people.
Where is FREED based?
FREED is headquartered in Gurugram, India, in the Asia region.
How does FREED make money?
Four revenue lines are on record. Evaluation Fee is the primary driver. The others are platform Fee, service Fee on Settlement and monthly Subscription Fee.
Who are FREED's main competitors?
Broad incumbents on record are BankBazaar and Paisabazaar. Direct peers are CreditMantri, IndiaLends, Freedom Debt Relief, National Debt Relief, ClearScore and Accredited Debt Relief. Emerging players are Money Mantra and MoneyView.
Does FREED have an API?
No public API is recorded for FREED.
What industry is FREED in?
FREED's product category is Consumer Debt Relief Services. Its primary akta.pro industry code is FSAKAAAK, Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment). Its NAICS code is 52222 and its SIC code is 6199.