14 March 2024 – With this additional funding, FREED hopes to continue leading the way in debt reduction while also fast-tracking its expansion and effect. “We are thrilled to have secured this significant investment, which not only validates the importance of our mission but also provides us with the resources to expand our reach and impact,” said Ritesh Srivastava, founder of FREED. “This funding will enable us to enhance our technology further, scale our operations, and ultimately, make a meaningful difference in the lives of many,” he said.
With this new investment, the firm said it hopes to expand its influence further, quicken its pace of development, and keep pushing the boundaries of debt alleviation. Since its founding in August 2020, FREED says it has enlisted more than 25,000 consumers’ stressed retail debt totaling more than Rs 1,200 crore on its platform.
Conclusion
The use of a special purpose account set aside for repayment creates a personalized strategy for debtors that helps them save money. It then bargains to lessen their debt load on their behalf. “We are thrilled to collaborate with FREED to support the millions of individuals who suffer from debt as a result of uncontrollable circumstances.
