FREED

Consumer Debt Relief Servicesfreed.care

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
Headcount251–500
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: 251–500 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 industry: PRIMARYFSAKAAAK
Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment)
Financial & Insurance/Lending & Consumer Finance/Personal Loans (Unsecured Installment)

Keywords

Debt relief services
Loan settlement
Debt consolidation
Credit monitoring
Financial counselling

Where FREED is headquartered

Location

Headquarters

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 offering

Core 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 profile

Named customers10 records

Segments3 records

Ideal customer profiles3 records

FREED technology and API

Technology

Technology 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 signal

Partnerships

One partnership is on record.

Trillionloans Fintech Private LimitedminorOthersPartner 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 assessment

Broad 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 financial estimates

Financial estimate

Revenue estimate

Valuation estimate

FREED leadership team

Management profile

Number of profiles

Profiles3 records

FREED funding detail

Funding detail

Funding 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 investment

M&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?

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 251 to 500 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.