News Post

Digital Banking Platform Freo Raises Debt Funding From SIDBI

Inc42

· 5m
placeholder-image

Digital banking platform Freo has secured an undisclosed debt funding from Small Industries Development Bank of India (SIDBI). This marks SIDBI's first debt investment in a fintech business. Freo plans to use the funds to expand into new categories and segments and to accelerate its pan-India reach. SIDBI's investment in Freo reflects its confidence in the potential of the fintech sector to promote financial inclusion and entrepreneurship in India. In 2023, India's fintech industry saw a 63% decline in VC funding, raising only $3 billion compared to the previous year's $8 billion.

6
View Source
No Comments yet

More Like this

Banking sector Q4 preview: PSU Banks to post better earnings than private banks

Banking sector Q4 preview: PSU Banks to post better earnings than private banks

Paytm Payments Bank | Latest & Breaking News on Paytm Payments Bank | Photos, Videos, Breaking Stories and Articles on Paytm Payments Bank

Paytm Payments Bank | Latest & Breaking News on Paytm Payments Bank | Photos, Videos, Breaking Stories and Articles on Paytm Payments Bank

NPCI arm, banks and fintechs in talks for net banking synergies

NPCI arm, banks and fintechs in talks for net banking synergies

Yes Bank Open To Taking Over Paytm Payments Bank Merchant Accounts

Yes Bank Open To Taking Over Paytm Payments Bank Merchant Accounts

Fino Payments Bank eyes tripling digital banking revenue by FY25

Fino Payments Bank eyes tripling digital banking revenue by FY25

Get QR code from another bank: RBI to merchants on Paytm Bank deadline

Get QR code from another bank: RBI to merchants on Paytm Bank deadline

Paytm shifts back-end payment settlements to Axis Bank from Paytm Payments Bank

Paytm shifts back-end payment settlements to Axis Bank from Paytm Payments Bank

Register alternate bank accounts: BSE to investors on Paytm Bank deadline

Register alternate bank accounts: BSE to investors on Paytm Bank deadline

ICICI Bank becomes 15th most valued bank globally as m-cap breaches $100-billion mark

ICICI Bank becomes 15th most valued bank globally as m-cap breaches $100-billion mark

Paytm to terminate business with Paytm Payments Bank after central bank’s clampdown

Paytm to terminate business with Paytm Payments Bank after central bank’s clampdown

Download the medial app to read full posts, comements and news.